New China ETFs are testing investors’ appetites amid Sino-US tech war, market rout


    A man wearing a protective mask is seen inside the Shanghai Stock Exchange building as a new coronavirus outbreak hits the country at Pudong financial district in Shanghai, China, 28 February 2020. REUTERS/Aly Song

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    SHANGHAI, Sept 23 (Reuters) – Five Chinese tech-focused ETFs were launched on Friday, testing investors’ appetites for chipmakers, new materials makers and machine tool makers amid an escalating China-US tech war and a global tech stock defeat.

    The new batch of exchange-traded funds (ETFs) received regulatory approval at a record pace over the weekend in an apparent attempt by authorities to bolster battered tech stocks ahead of next month’s politically important Communist Party congress. According to regulatory filings, approval took two days compared to weeks for other funds.

    Two of the ETFs will invest money in the shares of the 50 largest chipmakers listed on the STAR market in Shanghai, including…

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