When China’s leaders last week signalled that Beijing would introduce measures to support the economy as it makes a “tortuous” recovery from the pandemic, US-listed China exchange traded fund investors barely reacted.Data provided by VettaFi shows that in the week following the politburo meeting only the KraneShares CSI China Internet ETF (KWEB) attracted significant inflows, of $136.1mn.

The ETF that ranked second in terms of inflows, attracting $22.3mn, was the Direxion Daily FTSE China Bear 3x Shares (YANG) ETF — which offers the opportunity to bet that China’s market will fall. Inverse ETFs allow investors to make money when markets decline but result in magnified losses if the market rises.

Most of the 56 China-focused US-listed ETFs in VettaFi’s database attracted no inflows at all and 12 actually experienced outflows — the worst affected being the iShares MSCI China ETF (MCHI), which had outflows of $47.6mn in the week to July 31.