China Trade Balance (USD) For July 80.60B Vs. 67.80B Est.; 70.62B Prior
Portfolio Pulse from Benzinga Newsdesk
China's trade balance for July was reported at $80.60 billion, significantly higher than the estimated $67.80 billion and the prior figure of $70.62 billion.
August 08, 2023 | 3:51 am
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POSITIVE IMPACT
The reported higher trade balance for China in July may positively impact the iShares China Large-Cap ETF (FXI), as it indicates a stronger Chinese economy.
The trade balance is a key indicator of a country's economic health. A higher than expected trade balance for China suggests a stronger economy, which could lead to increased investor confidence in Chinese stocks. As FXI tracks the performance of the largest companies in the China equity market, it could benefit from this positive economic news.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80