There were no changes to the KraneShares models this week.
Chinese equities were mixed over the past week. After surpassing domestic equities roughly 2 weeks ago, the international equities groups still sit in first place on our DALI asset class rankings. Internationals continue to extend the lead, as the asset class now maintains 10 signals above its domestic equities counterpart. The KraneShares Tactical model (KRANETACTEM.TR) remains fully invested in emerging markets outside of China, as those areas have shown the most strength in recent months. This week, we highlight:
The KraneShares MSCI Emerging Markets EX China Index ETF (KEMX) completed a double top break at $43.50, marking its fifth consecutive buy signal. KEMX is up 3.4% over the past week, and over 18% year-to-date. Additionally, the fund offers a yield of ~2.9%. The weekly OBOS indicates that the fund is in slightly overbought territory, so wait for a slight normalization of the 10-week trading band before considering. Strong support can be seen at $41, with additional support at $40. Resistance can be seen at $49.
