Reported Earlier, Chinese Unemployment Rate For September 5% Vs. 5.2% Est.; 5.2% Prior
Portfolio Pulse from Benzinga Newsdesk
The Chinese unemployment rate for September was reported at 5%, lower than the estimated 5.2% and the prior rate of 5.2%.
October 18, 2023 | 5:25 am
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POSITIVE IMPACT
The lower than expected unemployment rate in China may positively impact the iShares China Large-Cap ETF (FXI), as it indicates a healthier Chinese economy.
The unemployment rate is a key indicator of economic health. A lower than expected rate suggests a healthier economy, which can lead to increased investor confidence in Chinese stocks, potentially boosting the value of ETFs like FXI that track these stocks.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80