Global X China Biotech Price, Forecast, Insider, Ratings, Fundamentals & Signals

New york , jan. 19, 2024 /prnewswire/ -- global x etfs, the new york-based provider of exchange-traded funds, today announced the scheduled liquidation of the following etfs (the "funds"), based on an ongoing review process of its product lineup to ensure it meets the evolving needs of its clients. the funds scheduled for liquidation include: fund ticker cusip global x cannabis etf potx 37954y145 global x carbon credits strategy etf ntrl 37960a586 global x china biotech innovation etf chb 37954y251 global x green building etf grnr 37960a842 global x health & wellness etf bfit 37954y798 global x metaverse etf vr 37960a834 global x msci china communication services etf chic 37950e804 global x msci china consumer staples etf chis 37954y558 global x msci china energy etf chie 37950e507 global x msci china financials etf chix 37950e606 global x msci china health care etf chih 37954y541 global x msci china industrials etf chii 37950e705 global x msci china information technology etf chik 37954y533 global x msci china materials etf chim 37950e242 global x msci china real estate etf chir 37960a685 global x msci china utilities etf chiu 37954y517 global x msci next emerging & frontier etf emfm 37950e218 global x msci pakistan etf pak 37954y335 global x msci portugal etf pgal 37950e192   based upon the recommendation of global x management company llc, the global x funds' adviser, the board of trustees determined on january 19, 2024 that it was in the best interests of the funds and their shareholders to liquidate each of the funds.

China and Hong Kong markets had a humbling 2023 with equities down more than 10%. Beijing has also begun stepping up tourism and travel promotions, granting visa-free entry to 11 countries, with Singapore and Thailand the latest to be included.

The week ending in February 15 featured the Exchange conference in Miami, Florida, and launches were muted as a result. Only one new ETF made its debut during the week.

Why China May Need To Do More To Boost Investor Confidence

The Chinese economy is stabilising, but the only fireworks will come from the new year celebrations, which begin on February 11, as momentum remains weak. China's GDP growth for the fourth quarter rose from 4.9% year-on-year to 5.2%, bringing 2023 full-year growth to 5.2% YoY, exceeding the 5% growth target set at last year's Two Sessions.

While recent policy announcements and data surprises have generated some optimism, we maintain a cautious stance on China's economic prospects. We believe weak consumption trends, a downbeat labor market and continuing property sector headwinds should all weigh on the economy in the coming quarters.

China's government is finally moving to stimulate the economy after its sluggish post-COVID reopening.

Chinese stock prices have lost money in the 16 years since 2007 and are now back near 2005 levels. Chinese treasury bonds have rallied sharply as beaten-up capital capitulates out of riskier markets and back to the relative safety of government bonds.

PMI data for October showed momentum in China's economy waned following recent improvements in hard activity data. By industry type, most manufacturing sectors experienced a slowdown in growth in October, though for companies that are heavy consumers of energy, activity actually declined slightly, perhaps affected by recent increases in the prices of crude energy.

The IMF, the World Bank, and the United Nations all rank China and Japan as the second and third largest economies on the planet. More of what is occurring in the markets should reflect what is happening in China and Japan which are strongly linked economically.

China's central bank tries new stimulus efforts to boost slowing growth. Why unemployment is proving to be key to China's economic troubles.