China's Trade Balance (USD) For June Came In Lower Than Expected At +70.62B Vs. +74.80B Est.; +65.81B prior
Portfolio Pulse from Benzinga Newsdesk
China's trade balance for June was reported at +$70.62B, lower than the estimated +$74.80B and higher than the prior +$65.81B.
July 13, 2023 | 6:26 am
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NEGATIVE IMPACT
China's lower than expected trade balance may impact the iShares China Large-Cap ETF (FXI).
The iShares China Large-Cap ETF (FXI) tracks the performance of an index composed of large-cap Chinese equities. A lower than expected trade balance indicates a potential slowdown in China's economy, which could negatively impact the performance of large-cap Chinese companies and, by extension, the FXI ETF.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80