Reported Earlier, China Imports (YoY) For April 8.4% Vs. 5.4% Est.; -1.9% Prior
Portfolio Pulse from Benzinga Newsdesk
China's imports for April increased by 8.4% year-over-year, surpassing the estimated 5.4% and marking a significant rebound from the previous -1.9%. This indicates a stronger than expected economic activity in China.
May 09, 2024 | 5:17 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 positive movement due to stronger than expected import data indicating robust economic activity in China.
The positive import data from China suggests increased economic activity and demand, which is likely to have a favorable impact on Chinese large-cap companies. As FXI tracks such companies, the ETF could experience upward price movement in response to this economic indicator.
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