China-focused ETFs drop as country’s property woes highlight ‘recession risks in China are real’

Exchange-traded funds that buy Chinese stocks slid Monday, extending back-to-back weekly losses after China’s disappointing economic data and fresh worries cast a cloud over the country’s property sector.

Shares of the iShares MSCI China ETF MCHI, which has about $8 billion of assets under management, closed down 0.7% on Monday while on pace for their worst month since May, according to FactSet data. The fund’s largest holdings on Aug. 11 included Tencent Holdings HK:700, Alibaba Group Holding HK:9988, Meituan HK:3690, China…