China Shares Lower Premarket On Weak August PMI Data
Portfolio Pulse from Charles Gross
Chinese shares are trading lower in the premarket due to weak August PMI data. This could potentially affect several US-listed Chinese companies and ETFs.
September 05, 2023 | 9:14 am
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NEGATIVE IMPACT
Alibaba's stock may be negatively impacted by the weak August PMI data in China.
As a major Chinese company, Alibaba's stock is likely to be affected by the overall economic conditions in China. The weak PMI data suggests a slowdown in the manufacturing sector, which could negatively impact Alibaba's business.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Baidu's stock may be negatively impacted by the weak August PMI data in China.
As a major Chinese company, Baidu's stock is likely to be affected by the overall economic conditions in China. The weak PMI data suggests a slowdown in the manufacturing sector, which could negatively impact Baidu's business.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
The iShares China Large-Cap ETF (FXI) may be negatively impacted by the weak August PMI data in China.
The iShares China Large-Cap ETF (FXI) tracks the performance of the largest companies in the Chinese stock market. The weak PMI data suggests a slowdown in the manufacturing sector, which could negatively impact the performance of these companies and, consequently, the ETF.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80