China's Xi Denies China Has Overcapacity Issue
Portfolio Pulse from Benzinga Newsdesk
China's President Xi Jinping has refuted claims that China is facing an overcapacity issue, according to a report by Xinhua. This statement comes amid ongoing discussions about the state of China's economy and its impact on global markets.
May 06, 2024 | 12:51 pm
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The denial of overcapacity issues in China by President Xi could influence investor sentiment towards Chinese markets, potentially impacting the iShares China Large-Cap ETF (FXI).
President Xi's statements can significantly influence investor perceptions of the Chinese economy. As FXI tracks large-cap Chinese stocks, positive sentiment from such high-level reassurances could lead to increased investor confidence in Chinese markets, potentially driving up the price of FXI in the short term.
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