Reported Earlier, China Caixin Services Purchasing Managers Index For October 50.4 Vs. 51.2 Est.; 50.2 Prior
Portfolio Pulse from Benzinga Newsdesk
China's Caixin Services Purchasing Managers Index (PMI) for October was reported at 50.4, lower than the estimated 51.2 and slightly higher than the previous 50.2.
November 03, 2023 | 5:00 am
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The lower than expected PMI could negatively impact the iShares China Large-Cap ETF (FXI), as it indicates a slower growth in China's service sector.
The PMI is a key indicator of economic health. A lower than expected PMI indicates a slower growth in the service sector, which could negatively impact companies within the iShares China Large-Cap ETF (FXI), leading to a potential decrease in the ETF's value.
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