China-linked ETFs fall as Alibaba shares skate close to 14%

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Shares of Alibaba Group Holding Ltd. BAB,
+ 0.27%
they followed the path of the sharpest daily decline recorded on Thursday, marking exchange-traded funds with large holdings of the Chinese e-commerce company. The KraneShares CSF China Internet ETF KWEB,
-3.40%,
which has an 8.3% stake in Alibaba shares, fell 3.7% in the last hour of trading in New York, while the GXC ETF of SPDR S&P China,
-2.42%
and the Franklin FTSE China FLCH ETF,
-2.62%
both lost 3.1%. IShares MSCI China MCHI ETF
-2.73%,
which has the largest share among ETFs domiciled in the United States, with 16.6%, according to FactSet data, down only 2.6%. Alibaba’s shares were successful when Chinese regulators began an antitrust investigation into the company and are on track to close at its lowest level since July, according to Dow Jones Market Data.

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