April 25, 2024
Finance
US-centered funds shine amid trade row: data
[THE INVESTOR] Korean funds that invest in US stocks have generated decent gains so far this year, while those focused on Chinese stocks suffered losses amid an escalating trade war between the world‘s two largest economies, industry data showed on July 15.
According to the data compiled by FnGuide, the average yield of 41 U.S. stocks-centered stock funds stood at 6.27 percent as of July 13, the largest gain among funds that invested in overseas stocks.
The funds also siphoned off a total of 225 billion won (US$199 million) in capital.
On the other hand, the 167 funds that invest in Chinese stocks have suffered an average 6.42 percent loss so far this year and have seen an outflow of 208 billion won, the data showed.
For the past year, the Dow Jones industrial average shed 1.57 percent, and the tech-laden Nasdaq gained 2.14 percent.
But the Shanghai Composite Index dropped 8.07 percent over the cited period, the data showed.
The US and China, the world’s two largest economies, have been at loggerheads over trade, which has had global repercussions.
In the latest salvo against China, the Donald Trump administration last week unveiled an additional list of tariffs on $200 billion worth of Chinese goods.
The action came just days after Washington levied punitive duties on $34 billion worth of Chinese products and Beijing threatened to retaliate with equivalent tariffs on American goods.
The US and China are South Korea‘s top two trading partners.
By Ahn Sung-mi and news wires (sahn@heraldcorp.com)
According to the data compiled by FnGuide, the average yield of 41 U.S. stocks-centered stock funds stood at 6.27 percent as of July 13, the largest gain among funds that invested in overseas stocks.
The funds also siphoned off a total of 225 billion won (US$199 million) in capital.
On the other hand, the 167 funds that invest in Chinese stocks have suffered an average 6.42 percent loss so far this year and have seen an outflow of 208 billion won, the data showed.
For the past year, the Dow Jones industrial average shed 1.57 percent, and the tech-laden Nasdaq gained 2.14 percent.
But the Shanghai Composite Index dropped 8.07 percent over the cited period, the data showed.
The US and China, the world’s two largest economies, have been at loggerheads over trade, which has had global repercussions.
In the latest salvo against China, the Donald Trump administration last week unveiled an additional list of tariffs on $200 billion worth of Chinese goods.
The action came just days after Washington levied punitive duties on $34 billion worth of Chinese products and Beijing threatened to retaliate with equivalent tariffs on American goods.
The US and China are South Korea‘s top two trading partners.
By Ahn Sung-mi and news wires (sahn@heraldcorp.com)
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