Reported Earlier, China Imports (YoY) For December 0.2% Vs. 0.3% Est.; -0.6% Prior
Portfolio Pulse from Benzinga Newsdesk
China's imports for December showed a slight increase of 0.2% year-over-year, which is below the estimated 0.3% and an improvement from the previous -0.6%.
January 12, 2024 | 5:48 am
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NEGATIVE IMPACT
The iShares China Large-Cap ETF (FXI) may be impacted by China's lower-than-expected import growth, indicating potential economic softness.
As FXI tracks large-cap Chinese companies, the lower-than-expected import data suggests a potential slowdown in economic activity, which could negatively affect these companies' performance and, consequently, the ETF's price in the short term.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80