au Jibun Bank Japan Services Purchasing Managers' Index (July) 58.3 Vs. 53.9 Est.; 54 Prior
Portfolio Pulse from Benzinga Newsdesk
The au Jibun Bank Japan Services Purchasing Managers' Index (PMI) for July has come in at 58.3, significantly higher than the estimated 53.9 and the previous month's 54. This indicates a strong expansion in the services sector in Japan.
August 04, 2023 | 12:34 pm
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POSITIVE IMPACT
The higher than expected PMI could lead to a positive impact on the BBJP ETF, which tracks Japanese equities.
BBJP tracks Japanese equities and a strong PMI indicates a healthy economy, which could lead to positive sentiment and potential growth in Japanese equities.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The DXJ ETF, which hedges against the Japanese yen, could see a positive impact due to the strong PMI data.
DXJ hedges against the Japanese yen and a strong PMI indicates a healthy economy, which could lead to positive sentiment and potential growth in Japanese equities, positively impacting DXJ.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 70
POSITIVE IMPACT
The EWJ ETF, which tracks Japanese equities, could see a positive impact due to the strong PMI data.
EWJ tracks Japanese equities and a strong PMI indicates a healthy economy, which could lead to positive sentiment and potential growth in Japanese equities.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80