China Imports (YoY) For July -12.4% Vs. -5.6% Est.; -6.8% Prior
Portfolio Pulse from Benzinga Newsdesk
China's year-over-year imports for July have decreased by 12.4%, which is significantly lower than the estimated 5.6% and the prior 6.8%.
August 08, 2023 | 3:51 am
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NEGATIVE IMPACT
The iShares China Large-Cap ETF (FXI) may be negatively impacted by the larger than expected decrease in China's imports.
The iShares China Large-Cap ETF (FXI) tracks the performance of an index composed of large-cap Chinese equities. A significant decrease in China's imports indicates a potential slowdown in the country's economy, which could negatively affect the performance of large-cap Chinese companies and, consequently, the FXI ETF.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80