Chinese markets and country-specific exchange traded funds are starting off 2018 with a bang.
Chinese tech-related ETFs were leading the charge Tuesday, with the KraneShares CSI China Internet Fund (NasdaqGM: KWEB) up 4.4% and PowerShares Golden Dragon China Portfolio (NasdaqGM: PGJ) 4.2% higher. While the PowerShares China ETF provides broad market exposure, PGJ includes a hefty 45.8% tilt toward information technology sector.
Meanwhile, the iShares China Large-Cap ETF (NYSEArca: FXI), the largest China-related ETF, jumped 3.1% Tuesday.
Chinese financial markets were celebrating the new year, with the MSCI China Index extending a 12-month rally and the Hong Kong benchmark index climbing to its highest level in over a decade.
Real estate developers were among the top performers Tuesday, strengthened by improving contracted sales, Bloomberg reports.
The Guggenheim China Real Estate ETF (NYSEArca: TAO), which tracks the Chinese real estate segment, was up 3.9% Tuesday.