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Wall Street dips as foreign firms eye China market
Wall Street fell amid renewed interest from global investors in mainland China, where affluent individuals hold $27 trillion. Citi CEO Jane Fraser will host the bank's China conference in Shanghai, featuring Anna Wintour. Franklin Templeton and ChinaAMC announced a partnership to launch co‑branded ETFs. DeepSeek AI advances and thematic ETFs draw attention, but Chinese equities have underperformed and funds like BlackRock's China Innovation Fund have closed. Regulatory concerns and capital controls add volatility, while state‑linked “National Team” funds intervene to stabilize markets.