Reported Earlier, China Trade Balance (USD) For April 72.35B Vs. 81.40B Est.; 58.55B Prior
Portfolio Pulse from Benzinga Newsdesk
China's trade balance for April was reported at $72.35 billion, lower than the estimated $81.40 billion but higher than the previous month's $58.55 billion.
May 09, 2024 | 5:17 am
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NEGATIVE IMPACT
The iShares China Large-Cap ETF (FXI), which tracks the investment results of an index composed of large-capitalization Chinese equities that trade on the Hong Kong Stock Exchange, may see short-term impact due to China's lower-than-expected trade balance for April.
The lower-than-expected trade balance report for China could lead to negative sentiment among investors regarding the Chinese economy's performance, potentially affecting the performance of ETFs like FXI that are heavily invested in Chinese large-cap stocks. Given that trade balances are a significant economic indicator, this news could lead to short-term volatility in FXI's price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75