China Exports (YoY) (Jul) (14.5)% vs (9.8)% Est.
Portfolio Pulse from Benzinga Newsdesk
The year-on-year exports for July have declined by 14.5%, which is worse than the estimated decline of 9.8%.
August 08, 2023 | 3:17 am
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NEGATIVE IMPACT
The worse than expected decline in exports could negatively impact the performance of the iShares China Large-Cap ETF (FXI).
FXI tracks the performance of an index composed of large-capitalization Chinese equities. A worse than expected decline in exports indicates a potential slowdown in the Chinese economy, which could negatively impact the performance of these equities and, by extension, FXI.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80