Chinese Unemployment Rate For August 5.2% Vs. 5.3% Est.; 5.3% Prior
Portfolio Pulse from Benzinga Newsdesk
The unemployment rate in China for August was reported at 5.2%, lower than the estimated 5.3% and the prior rate of 5.3%. This could indicate a strengthening Chinese economy.
September 15, 2023 | 3:58 am
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POSITIVE IMPACT
The iShares China Large-Cap ETF (FXI) could be positively impacted by the lower than expected unemployment rate in China, indicating a potentially stronger economy.
The iShares China Large-Cap ETF (FXI) tracks the performance of an index composed of large-cap Chinese equities. A lower than expected unemployment rate could indicate a strengthening economy, which could lead to improved performance of these large-cap companies, potentially boosting the value of FXI.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80