Reported Earlier, China Imports (YoY) For May 1.8% Vs. 4.2% Est.; 8.4% Prior
Portfolio Pulse from Benzinga Newsdesk
China's imports for May grew by 1.8% year-over-year, significantly below the estimated 4.2% and the previous month's 8.4%.
June 07, 2024 | 4:53 am
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The iShares China Large-Cap ETF (FXI) may experience short-term volatility due to China's lower-than-expected import growth for May, which could signal a slowdown in economic activity.
FXI, which tracks large-cap Chinese companies, is likely to be impacted by the lower-than-expected import growth. This could be interpreted as a sign of weakening economic activity, potentially affecting investor sentiment and leading to short-term price declines.
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