China Consumer Price Index (MoM) For July 0.2% Vs. 0.1% Est.; -0.2% Prior; Consumer Price Index (YoY) For July -0.3% Vs. -0.4% Est.; 0.0% Prior
Portfolio Pulse from Benzinga Newsdesk
China's Consumer Price Index (CPI) for July has shown a month-on-month increase of 0.2%, beating the estimate of 0.1% and showing an improvement from the previous month's -0.2%. However, the year-on-year CPI for July is -0.3%, slightly better than the estimated -0.4%, but down from the previous year's 0.0%.
August 09, 2023 | 3:50 am
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POSITIVE IMPACT
The iShares China Large-Cap ETF (FXI) may be impacted by the reported changes in China's CPI. The MoM increase and better-than-expected YoY figures could potentially boost investor confidence.
The FXI ETF tracks the performance of large-cap Chinese companies. As such, changes in China's economic indicators, such as the CPI, can influence the ETF's performance. The reported MoM increase and better-than-expected YoY figures suggest an improving economic situation, which could boost investor confidence and potentially lead to an increase in the ETF's price.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80