Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF ASHS is probably on the radar for investors seeking momentum. The fund just hit a 52-week high and moved up 57.4% from its 52-week low price of $22.02/share.
Are more gains in store for this ETF? Let us take a quick look at the fund and the near-term outlook on it to get a better idea of where it might be headed.
ASHS in Focus
The underlying CSI 500 Index aims to track 500 small cap companies listed on the Shanghai and Shenzhen stock exchanges. The product charges 65 bps in annual fees.
Why the Move?
On Sept. 24, 2024, China's central bank, the People’s Bank of China (PBOC), has announced a broad range of monetary stimulus measures aimed at boosting the world's second-largest economy. This move indicates growing concern within Xi Jinping's administration over the nation’s slowing growth and declining investor confidence. Several China ETFs, thus, have been hovering around a 52-week high.
More Gains Ahead?
Currently, the ETF ASHS might continue its strong performance in the near term, with a positive weighted alpha of 31.17, which gives cues of a further rally.
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Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF (ASHS): ETF Research Reports
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