China, Russia To Boost Industry, Agriculture Cooperation
Portfolio Pulse from Benzinga Newsdesk
China and Russia have announced plans to boost cooperation in industry and agriculture sectors, according to Xinhua. This collaboration is expected to strengthen economic ties between the two countries.
May 23, 2023 | 2:20 pm
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NEUTRAL IMPACT
The SPDR S&P 500 ETF (SPY) may experience indirect effects from the increased cooperation between China and Russia in industry and agriculture sectors.
While the SPY ETF tracks the performance of the S&P 500 Index, the increased cooperation between China and Russia may have indirect effects on the global economy and, consequently, on the performance of the S&P 500 companies. However, the direct impact on the ETF is expected to be limited.
CONFIDENCE 65
IMPORTANCE 40
RELEVANCE 50
POSITIVE IMPACT
The iShares China Large-Cap ETF (FXI) may benefit from the increased cooperation between China and Russia in industry and agriculture sectors.
As the FXI ETF tracks the performance of large-cap Chinese companies, the increased cooperation between China and Russia in industry and agriculture sectors could lead to improved performance of these companies, thus positively impacting the ETF.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80