FXI iShares China Large Cap ETF Is Rising!
πππIt's so exciting to see that Chinese stocks are on the cusp of bull markets with the recent rally in China's A50 and Hong Kong's Hang Seng Index.
$iShares China Large-Cap ETF(FXI)$ seeks to track the investment results of an index composed of large Cap Chinese stocks that trade on the Hong Kong Stock Exchange. In just 1 trade I gain access to the best Chinese stocks.
The Top 10 holdings include $Alibaba(09988)$
Top 10 holdings weightage is 57.4%. Total number of holdings is 50. The expense ratio is 0.74%. Distributions are paid every 6 months. The current distribution yield is 3.24%. FXI goes ex dividend on June 11 2024.
FXI has USD 4.38 billion in Assets Under Management and was established in October 5 2004 making it one of the oldest China focused ETFs. The Fund Manager is BlackRock under its iShares Brand which is the largest Fund Manager in the world with USD 10 Trillion in Assets Under Management.
Alibaba is the Top holding with a weightage of 9%. It is also one of the largest Chinese ECommerce companies in the world founded by Jack Ma. Alibaba is also into Cloud Computing, retail, internet and delivery business. In March 2023, Alibaba said that it will split its company into 6 business groups, each with the ability to raise outside funding and go public.
Tencent is well known for its multi player online games, social networks, music, web portals, ECommerce, mobile games, Internet services, payment systems. WeChat, Tencent QQ and QQ.com are widely used in China.
Meituan is a Chinese Tech company that offers supply chain solutions, local transportation services, food delivery services, hotel and travel services and many more.
Netease develops and operates online PC and mobile games, advertising, email services and ECommerce platforms in China. Netease also has an on demand music streaming service under Netease Music.
Both Tencent and Netease are 2 of the largest Internet and video games companies in the world.
Performance wise FXI ETF is up 5.8% in the past 5 days and 6% year todate. However in 2023, FXI is down 11%.
I believe that FXI ETF is a great low cost ETF to get into the Chinese stocks trading in Hong Kong. It is undervalued, offers great diversification and minimises my risk in buying individual stocks.
As the famous Sir John Templeton once said "Bull markets are born on pessimism, grown on scepticism, mature on optimism and die on euphoria.". Right now we are on the cusp of bull markets for Chinese stocks.
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