China Exports (YoY) For August -8.8% Vs. -9.2% Est.; -14.5% Prior; Imports (YoY) For August -7.3% Vs. -9% Est.; -12.4% Prior
Portfolio Pulse from Benzinga Newsdesk
China's year-on-year exports for August fell by 8.8%, which is better than the estimated 9.2% and the previous 14.5%. Similarly, imports decreased by 7.3%, also better than the estimated 9% and the previous 12.4%.
September 07, 2023 | 3:57 am
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POSITIVE IMPACT
The better-than-expected trade figures from China may have a positive impact on the iShares China Large-Cap ETF (FXI), which tracks the performance of the largest companies in the Chinese stock market.
The iShares China Large-Cap ETF (FXI) is likely to be positively impacted by the better-than-expected trade figures from China. This is because the ETF tracks the performance of the largest companies in the Chinese stock market, many of which are exporters and importers. Therefore, any improvement in the trade figures can boost the performance of these companies and, consequently, the ETF.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80