Reported Earlier, China Imports (YoY) For July 7.2% Vs. 3.5% Est.; -2.3% Prior
Portfolio Pulse from Benzinga Newsdesk
China's imports for July increased by 7.2% year-over-year, significantly surpassing the estimated 3.5% and recovering from a prior decline of -2.3%.
August 07, 2024 | 4:48 am
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POSITIVE IMPACT
The iShares China Large-Cap ETF (FXI) is likely to see positive movement due to the stronger-than-expected import data from China for July, which indicates a potential recovery in economic activity.
The significant increase in China's imports suggests a rebound in economic activity, which is likely to positively impact the performance of the iShares China Large-Cap ETF (FXI) as it is heavily exposed to Chinese companies.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80