Reported Earlier, 'China To See New Covid-19 Wave, Cases To Peak At 65 Million A Week' - Mint
Portfolio Pulse from Benzinga Newsdesk
China is expected to face a new Covid-19 wave, with cases peaking at 65 million infections per week by the end of June, driven by the XBB variant. The country is rushing to develop new vaccines targeting the variant, with two already receiving preliminary approval and more expected soon.
May 23, 2023 | 7:15 pm
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China's new Covid-19 wave may impact the iShares China Large-Cap ETF (FXI) as the country faces increased cases and rushes to develop new vaccines.
The new Covid-19 wave in China, with cases expected to peak at 65 million per week, may negatively impact the iShares China Large-Cap ETF (FXI) as it represents the performance of large-cap Chinese stocks. The increased cases and urgency to develop new vaccines may cause uncertainty and volatility in the Chinese market, potentially affecting the ETF's performance in the short term.
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