China-focused exchange-traded funds (ETFs) and stocks of Chinese companies listed in the U.S. suffered a sharp sell-off on Friday, November 8, 2024, after Beijing announced a debt swap stimulus plan that fell short of investors' expectations for broader fiscal support to boost the country's sluggish economy.
The iShares China Large-Cap ETF (FXI), which tracks major Chinese companies, plunged 5.12% in heavy trading as investors reacted to China's unveiled 10 trillion yuan ($1.4 trillion) package aimed at tackling mounting debt levels at local governments. The plan allows local authorities to sell bonds to swap out their debt, but failed to deliver the broader stimulus measures that the market had been anticipating.
According to analysts, the debt swap plan disappointed investors who were eagerly awaiting a more substantial fiscal stimulus from Beijing to revive the country's economic growth amid concerns over slowing demand and lingering trade tensions with the United States.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。