Reported Late Thursday, China Exports (YoY) For September -6.2% Vs. -7.6% Est.; -8.8% Prior; China Imports (YoY) For September -6.2% Vs. -6% Est.; -7.3% Prior
Portfolio Pulse from Benzinga Newsdesk
China's year-on-year exports for September fell by 6.2%, better than the estimated 7.6% and the previous 8.8%. However, imports for the same period also decreased by 6.2%, slightly worse than the estimated 6% and better than the previous 7.3%.
October 13, 2023 | 5:22 am
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NEUTRAL IMPACT
The reported figures may have a mixed impact on the iShares China Large-Cap ETF (FXI). While the better-than-expected export figures are positive, the worse-than-expected import figures could be a concern.
The iShares China Large-Cap ETF (FXI) is likely to be affected by the reported trade figures. The better-than-expected export figures suggest a stronger external demand for Chinese goods, which is positive for the large-cap companies that FXI invests in. However, the worse-than-expected import figures could indicate a weaker domestic demand, which could negatively affect these companies.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100