'China's Newest Nuclear Submarine Sank, Setting Back Its Military Modernization; Pierside Accident Came As Beijing Attempts To Expand Its Navy' - WSJ
Portfolio Pulse from Benzinga Newsdesk
China's newest nuclear-powered attack submarine sank in the spring, marking a significant setback for its military modernization efforts. The incident occurred at a shipyard near Wuhan and was initially covered up by Chinese authorities.
September 26, 2024 | 3:07 pm
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The sinking of China's newest nuclear submarine could impact investor sentiment towards Chinese equities, as it highlights potential challenges in China's military and technological advancements.
The incident may lead to concerns about China's military capabilities and technological reliability, potentially affecting the perception of Chinese equities. FXI, as an ETF tracking Chinese stocks, could see a negative impact due to broader concerns about China's strategic initiatives.
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