U.S. Arms Sales: State Department Approves Potential Sale Of Joint Air-To-Surface Standoff Missiles To Japan For Estimated $104M
Portfolio Pulse from Benzinga Newsdesk
The U.S. State Department has approved a potential sale of Joint Air-to-Surface Standoff Missiles to Japan, estimated at $104M, according to Reuters citing the Pentagon.
August 28, 2023 | 7:12 pm
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NEUTRAL IMPACT
The potential missile sale to Japan could indirectly affect the iShares MSCI Japan ETF (EWJ) due to potential changes in Japan's defense spending.
The potential missile sale could lead to changes in Japan's defense budget, which could indirectly affect the Japanese economy and, by extension, the performance of the EWJ ETF. However, the direct impact on the ETF is uncertain.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
The potential missile sale to Japan is unlikely to have a significant direct impact on the SPDR S&P 500 ETF (SPY).
The potential missile sale is a specific event that is unlikely to have a significant direct impact on the broad U.S. market, which the SPY ETF represents.
CONFIDENCE 80
IMPORTANCE 20
RELEVANCE 20