Trading in China ETFs Soars as Trump Upends Tariff Optimism

(Bloomberg) -- Trading in China-focused ETFs soared Friday as U.S. President Donald Trump cast doubt on the details of a trade deal between the two nations.

More than 175,000 shares in the Xtrackers Harvest CSI 300 China A-Shares ETF, which buys stocks in Shanghai and Shenzhen, crossed the tape as of 9:30 a.m., the most before the open since Sept. 26, data compiled by Bloomberg show. The iShares China Large-Cap fund, the largest China ETF, saw its biggest pre-market session in a month.

Futures on U.S. stocks erased gains after Trump labeled reporting that discussed the easing of some tariffs as part of a so-called phase-one trade agreement as “wrong.” China’s state council information office is due to hold a press conference.

“This trade negotiation is turning into a 3-ring circus that looks a lot like a game show or reality TV series only the victims are American investors,” said Chris Rupkey, chief financial economist for MUFG Union Bank.

©2019 Bloomberg L.P.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.