China Caixin Services Purchasing Managers Index (July) 54.1 Vs. 52.5 Est.; 53.9 Prior
Portfolio Pulse from Benzinga Newsdesk
China's Caixin Services Purchasing Managers Index (PMI) for July was reported at 54.1, higher than the estimated 52.5 and the prior figure of 53.9.
August 04, 2023 | 12:33 pm
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POSITIVE IMPACT
The higher-than-expected PMI could positively impact the iShares China Large-Cap ETF (FXI), as it indicates a stronger Chinese service sector.
The Caixin Services PMI is a key indicator of China's non-manufacturing sector health. A higher-than-expected PMI suggests a stronger service sector, which could lead to increased investor confidence in Chinese large-cap companies, potentially boosting the FXI ETF.
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