Reported Earlier, China Exports (YoY) For October -6.4% Vs. -3.3% Est.; -6.2% Prior
Portfolio Pulse from Benzinga Newsdesk
China's year-on-year exports for October fell by 6.4%, which is worse than the estimated 3.3% and the previous 6.2%.
November 07, 2023 | 6:04 am
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NEGATIVE IMPACT
The worse-than-expected drop in China's exports could negatively impact the iShares China Large-Cap ETF (FXI), which tracks the performance of the Chinese market.
FXI tracks the performance of the Chinese market, and a significant drop in exports, which is worse than expected, could indicate a weakening economy. This could lead to a decrease in investor confidence and a potential drop in the ETF's price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100