Reported Earlier, Japan Gross Domestic Product (YoY) For Q3 -2.9% Vs. -2.1% Est.; 3.6% (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
Japan's GDP for Q3 contracted by 2.9% year-over-year, which is worse than the estimated 2.1% contraction. This is a significant decrease from the prior revision of 3.6% growth.
December 08, 2023 | 5:52 am
News sentiment analysis
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NEGATIVE IMPACT
The worse-than-expected contraction in Japan's GDP may lead to negative sentiment for BBJP, which tracks Japanese equities.
As BBJP is an ETF that tracks Japanese equities, the negative GDP report suggests a weaker economic environment, which could reduce investor confidence and potentially lead to a decrease in the ETF's price in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
DXJ, which includes currency-hedged Japanese equities, may be adversely affected by the disappointing GDP figures.
DXJ's focus on currency-hedged Japanese equities means that its performance is closely tied to the health of the Japanese economy. The larger-than-expected GDP contraction could negatively impact the ETF's performance.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
EWJ, an ETF that tracks the Japanese market, may see a decline due to the negative GDP report indicating economic slowdown.
EWJ, which tracks the Japanese market, is likely to be impacted by the negative GDP data as it reflects a slowing economy, which could lead to reduced investor confidence and a short-term drop in the ETF's price.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80