KraneShares CSI China Internet ETF shares rose nearly 40% Wednesday on record trading volume, a big turnaround for the exchange-traded fund whose shares had been battered in recent days amid a selloff in Chinese stocks.

Shares of the $5.1 billion ETF, buoyed by a rally in Chinese stocks, closed at $30.99 Wednesday on the New York Stock Exchange, up from $22.18 on Tuesday, on trading volume of more than 103 million shares.

KraneShares CSI China Internet ETF saw 40% rally after losses comes via ChinaTechNews.com.