Reported Earlier, China Trade Balance (USD) For October 56.53B Vs. 82.00B Est.; 77.71B Prior
Portfolio Pulse from Benzinga Newsdesk
China's trade balance for October was reported at $56.53B, significantly lower than the estimated $82.00B and the prior figure of $77.71B.
November 07, 2023 | 6:04 am
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NEGATIVE IMPACT
The lower than expected trade balance in China may impact the iShares China Large-Cap ETF (FXI), which tracks the performance of the largest companies in the Chinese stock market.
The trade balance is a key economic indicator that can influence market sentiment. A lower than expected figure suggests a slowdown in China's trade, which could negatively impact the performance of Chinese companies and, by extension, the FXI ETF that tracks them.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80