China Removes Li Shangfu From Post Of Defense Minister
Portfolio Pulse from Benzinga Newsdesk
China has removed Li Shangfu from his position as Defense Minister, according to Chinese state media reports cited by Reuters. The impact on US-listed ETFs such as FXI and SPY is yet to be determined.
October 24, 2023 | 11:16 am
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NEUTRAL IMPACT
China's removal of Defense Minister Li Shangfu may impact the iShares China Large-Cap ETF (FXI), though the extent is unclear.
The removal of a high-ranking official like the Defense Minister can cause uncertainty and potentially impact the market. However, the specific impact on FXI is unclear without more information.
CONFIDENCE 50
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
The removal of China's Defense Minister Li Shangfu may have an indirect impact on the SPDR S&P 500 ETF (SPY), though the extent is unclear.
While SPY is not directly linked to Chinese politics, global geopolitical changes can influence the overall market sentiment and thus indirectly affect SPY. The specific impact is unclear without more information.
CONFIDENCE 50
IMPORTANCE 30
RELEVANCE 30