Investors flood to KWEB as the China tech ETF took in over $500M of inflows last week
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The financial community piled into purchasing shares of the KraneShares CSI China Internet Fund (NYSEARCA:KWEB) as the exchange traded fund has taken in over $500M last week, its largest grouping of inflows in four months.
KWEB offers investors exposure to Chinese stocks whose primary business is focused on internet and internet-related technology. 
According to Bloomberg data, KWEB attracted $529M in investor capital for the week ending on May 20th. This surplus of cash marks the ETF's most significant weekly inflow since January.
The rush to KWEB by investors can be justified as participants hope that the exchange traded fund will rebound as it has crumbled 74.6% since it peaked 15-months back on Feb. 17 of 2021. Moreover, last week's inflows were not alone, KWEB has now taken in $1.88B in 2022.
KWEB trades to the downside on the year by 27.2% and has been pulled lower by its top three holdings Tencent Holdings (OTCPK:TCEHY), Alibaba Group (BABA), and JD.com (JD) which are each down year-to-date by -25%, -27.5%, and -20%, respectively. Additionally, all three stocks represent a combined weighting in KWEB of 29.57%.
The crashing prices in KWEB and other related Chinese based ETFs can be attributed to supply chain issues, Covid lockdowns, and the outlook of slower growth.
In other Asia Pacific news, the United States has launched the Indo-Pacific Economic Framework.