Reported Earlier, China Non-Manufacturing Purchasing Managers Index For July 50.2 Vs. 50.3 Est.; 50.5 Prior
Portfolio Pulse from Benzinga Newsdesk
China's Non-Manufacturing Purchasing Managers Index (PMI) for July came in at 50.2, slightly below the estimated 50.3 and the previous month's 50.5. This indicates a marginal slowdown in the non-manufacturing sector.
July 31, 2024 | 4:46 am
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The iShares China Large-Cap ETF (FXI) may experience short-term volatility due to the slight underperformance of China's Non-Manufacturing PMI for July, which came in at 50.2 versus the estimated 50.3 and the previous 50.5.
The slight miss in the Non-Manufacturing PMI suggests a marginal slowdown in China's non-manufacturing sector, which could lead to short-term negative sentiment for FXI.
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