Sentiment of the broader China stock market: NJUN reflects China A-shares performance, so overall optimism or pessimism towards Chinese stocks impacts its price.

Underlying assets' performance: NJUN tracks an index of Shanghai and Shenzhen-listed companies. Their individual stock price fluctuations directly affect the ETF's NAV and price.

Currency exchange rates: The relative strength of the USD against the CNY (Yuan) affects returns for USD-based investors in NJUN.

Supply and Demand: High demand can drive the price above its net asset value (NAV), while high selling pressure can push it below.

Index Replication Strategy: How well the ETF replicates its target index impacts tracking error, affecting price accuracy relative to its benchmark.

Geopolitical events: Trade tensions or political instability related to China influence investor confidence and the ETF's price.

Changes in investment regulations: Alterations in rules affecting foreign investment in China A-shares can impact demand for NJUN.

Economic Data Releases: Major economic data releases from China, such as GDP growth or inflation figures, can affect market sentiment.