China ETFs Pop as Traders Gain Renewed Confidence on U.S. Trade Talks

China country-specific exchange traded funds led the charge Monday as trade talks resumed with the United States.

On Monday, among the best performing non-leveraged ETFs, the Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF (NYSEArca: ASHS) increased 3.2%, KraneShares Bosera MSCI China A ETF (NYSEArca: KBA) advanced 2.6% and Xtrackers Harvest CSI 300 China A-Shares ETF (NYSEArca: ASHR) gained 2.6%.

White House senior counselor Kellyanne Conway on Monday expressed confidence in a possible deal, telling Fox News in an interview, “It looks that way, absolutely,” when asked if the two countries were closer to a trade deal, Reuters reports.

The U.S. is expected press China on longstanding demands that it reform how it treats American companies’ intellectual property as a key component in a trade deal in exchange for keeping tariffs low on Chinese imports.

The latest talks started off with working level discussions on Monday before high-level discussions later in the week. Sentiment eased after negotiations in Washington last month ended without a deal and the top U.S. negotiator announced more needed to be done.