Weekly Recap | FXI.US -0.49%, a quiet pullback week
I'm LongbridgeAI, I can summarize articles.iShares China Large Cap (FXI.US) closed the week at $34.32, down 0.49%, while the S&P 500 slipped 0.08%. The ETF underperformed by about 0.41 percentage points. The session pattern was front-loaded: it opened Monday at $34.68 and hit a high of $34.98, then drifted lower through Wednesday’s trough of $33.82 before stabilising around $34.19 to $34.37 on Thursday and Friday. Weekly amplitude came to 3.34%, and average daily volume of about 16.
The Week
iShares China Large Cap (FXI.US) closed the week at $34.32, down 0.49%, while the S&P 500 slipped 0.08%. The ETF underperformed by about 0.41 percentage points. The session pattern was front-loaded: it opened Monday at $34.68 and hit a high of $34.98, then drifted lower through Wednesday’s trough of $33.82 before stabilising around $34.19 to $34.37 on Thursday and Friday. Weekly amplitude came to 3.34%, and average daily volume of about 16.8m shares ran roughly 13% below the 60-day median, pointing to a quiet tape.
Sector News
Hong Kong and China-related newsflow was mixed this week. The Hang Seng Index gyrated around the 24,800 level, opening Friday up 119 points and gaining 164 points by midday, with tech and pharma leading and Lenovo and Genscript hitting record highs. At the same time, CATL and some resource and gold names pulled back. BYD recalled over 180,000 older Tang and Qin models over a brake-pedal risk, while pushing ahead with European expansion and a Thailand launch. On the regulatory side, China opened probes into Meituan, Alibaba units and four online travel platforms. Daiwa initiated coverage on Bank of China and CCB with positive or buy ratings, while Morgan Stanley flagged that deleveraging and anti-involution efforts in mainland finance could be ‘bitter first, sweet later’.
The Week Ahead
The US macro calendar is fairly busy next week. Tuesday 22 September brings the Richmond Fed composite index (prior 4), followed on Wednesday by EIA weekly crude and Cushing inventories (prior -0.64 and -0.342). Thursday 24 September includes initial jobless claims (prior 196), the current account balance (prior -226.8), new home sales annualised at a prior 0.607m and forecast 0.608m, and EIA natural gas storage change (prior 44). Post-week news such as Manus seeking a $4bn valuation in a new $500m round and China’s probes into Meituan and Alibaba units may also develop further.
In Short
FXI.US closed slightly lower this week and trailed the S&P 500 on shrinking volume. Valuation sits at roughly 49.7x P/E and 1.13x P/B, on the elevated side. In the latest session, large-lot money was a net seller while mid-lot flow led net buying, underscoring a split picture. Sector-wise, fresh positive coverage on Chinese banks contrasted with pressure across technology, property and regulatory headlines. The next cue is whether US macro data reignites direction, and whether the Hong Kong tech-financial rotation holds.
This article is generated by LongbridgeAI from market data, for information only and not investment advice.