China Exports (YoY) For June -12.4% Vs. -9.5% Est.; -7.5% Prior; China Imports (YoY) For June -6.8% Vs. -4% Est.; -4.5% Prior
Portfolio Pulse from Benzinga Newsdesk
China's year-on-year exports for June fell by 12.4%, more than the estimated 9.5% and the previous 7.5%. Similarly, imports for the same period also declined by 6.8%, compared to the estimated 4% and the previous 4.5%.
July 13, 2023 | 6:11 am
News sentiment analysis
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NEGATIVE IMPACT
The iShares China Large-Cap ETF (FXI) could be negatively impacted by the worse than expected trade data from China.
The iShares China Large-Cap ETF (FXI) tracks the performance of an index composed of large-cap Chinese equities. The worse than expected trade data from China indicates a slowdown in the Chinese economy, which could negatively impact the performance of these large-cap companies and, consequently, the ETF.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100