Asian Stocks Fall After China Releases Key Economic Data; GDP 6.3% Lower Than Expected
Portfolio Pulse from Benzinga Newsdesk
Asian stocks fell after China released key economic data showing a GDP 6.3% lower than expected. The Hang Seng, Shanghai, and Shanghai Shenzhen CSI 300 indices all experienced declines, while the U.S. Dollar rose slightly during the Asian session.
July 17, 2023 | 5:37 am
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NEGATIVE IMPACT
The iShares China Large-Cap ETF (FXI) may be negatively impacted by the lower than expected GDP data from China, as it tracks the performance of the largest companies in the Chinese stock market.
The iShares China Large-Cap ETF (FXI) tracks the performance of the largest companies in the Chinese stock market. The lower than expected GDP data from China indicates a slowing economy, which could negatively impact these companies and, by extension, the performance of the FXI ETF.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100