China GDP (QoQ) (Q2) 0.8% Vs. 0.5% Est.; 2.2% Prior; China GDP (YoY) 6.3% Vs. 7.3% Est.; 4.5% Prior
Portfolio Pulse from Benzinga Newsdesk
China's Q2 GDP growth was reported at 0.8% quarter-on-quarter, beating the estimate of 0.5% and the prior figure of 2.2%. However, the year-on-year GDP growth was 6.3%, lower than the estimated 7.3% and higher than the prior 4.5%.
July 17, 2023 | 4:22 am
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NEUTRAL IMPACT
The reported GDP figures may impact the iShares China Large-Cap ETF (FXI), as it tracks the performance of the largest companies in the Chinese stock market.
The mixed GDP figures, with a beat on the QoQ estimate but a miss on the YoY estimate, may lead to uncertainty in the market. This could potentially affect the performance of the FXI ETF, which is heavily influenced by the overall health of the Chinese economy.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80