Reported Earlier, China Non-Manufacturing Purchasing Managers Index For April 51.2 Vs. 52.3 Est.; 53.0 Prior
Portfolio Pulse from Benzinga Newsdesk
China's Non-Manufacturing Purchasing Managers Index (PMI) for April was reported at 51.2, lower than the estimated 52.3 and the previous month's 53.0, indicating a slowdown in the non-manufacturing sector.
April 30, 2024 | 4:41 am
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The iShares China Large-Cap ETF (FXI), which tracks the investment results of an index composed of large-capitalization Chinese equities, may see short-term price pressure due to the lower than expected Non-Manufacturing PMI indicating a slowdown in China's non-manufacturing sector.
The iShares China Large-Cap ETF (FXI) is sensitive to economic indicators from China, especially those reflecting the health of the non-manufacturing sector, as it comprises large-cap Chinese equities that could be directly impacted by changes in economic conditions. The lower than expected PMI suggests a potential slowdown in economic activities, which could lead to reduced investor confidence in the short term, negatively impacting the price of FXI.
CONFIDENCE 85
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