Related: Trade War Won’t Keep China ETFs Down

On the other hand, some traders believe more selling could hit Chinese stocks in the near-term.

“Piper Jaffray’s chief market technician Craig Johnson says more pressure on the Chinese markets could trigger a wave of sell-offs, particularly if the Shanghai Composite breaks below a major level of support,” according to CNBC.

FXI holds 50 stocks, 47% of which are financial services names.

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