EMQQ founder ‘takes consolation’ in US-China commerce struggle

HomeMarket

EMQQ founder ‘takes consolation’ in US-China commerce struggle

They do not name them "rising" markets for nothing.Overhangs to the rising markets bull case — most notably the continuing U.S.-China trade dispute


They do not name them “rising” markets for nothing.

Overhangs to the rising markets bull case — most notably the continuing U.S.-China trade dispute and the more and more violent protests in Hong Kong — aren’t swaying EMQQ founder Kevin Carter from his put up as head of the China-heavy exchange-traded fund.

In truth, the cacophony of China worries truly offers the ETF creator some “consolation” in understanding issues could not get a lot worse, he informed CNBC’s “ETF Edge” on Monday.

“We had giant declines coming into this yr — about 30% final yr — however the fundamentals have been nice,” Carter mentioned. “I truly take consolation in the truth that we now have a reasonably important commerce struggle. We now have, actually, blood in the streets of Hong Kong and now, a minimum of within the final a number of weeks, even LeBron James has been dragged into the conflict. So, I feel that it is arduous to make up a situation the place the backdrop could be even worse than this.”

Amid all of the noise, EMQQ, identified each by its ticker and as The emerging Markets Internet & Ecommerce ETF, is up almost 26% yr to this point. The fund counts the shares of Chinese language giants Pinduoduo, Alibaba and Tencent amongst its prime holdings and prices 86 foundation factors to personal.

China’s economy has been softening, by way of GDP development slowing, for 15 years. The patron development stays fairly robust, however … sentiment has been the…



cnbc.com