Reported Earlier, Japan Adjusted Current Account For November 1.89T Vs. 2.18T Est.; 2.62T Prior
Portfolio Pulse from Benzinga Newsdesk
Japan's adjusted current account for November was reported at 1.89 trillion yen, falling short of the estimated 2.18 trillion yen and below the prior month's 2.62 trillion yen.
January 12, 2024 | 5:29 am
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NEGATIVE IMPACT
The lower-than-expected current account may indicate a weaker economic performance, which could negatively impact the performance of the JPMorgan BetaBuilders Japan ETF (BBJP).
As BBJP tracks a market-cap-weighted index of Japanese companies, a weaker economic indicator like the current account could lead to bearish sentiment among investors, potentially decreasing the ETF's value in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
WisdomTree Japan Hedged Equity Fund (DXJ) may face downward pressure due to Japan's lower-than-expected current account, as it suggests a potential slowdown in economic activity.
DXJ, which invests in dividend-paying companies in Japan while hedging against currency fluctuations, might be adversely affected by negative economic data, as it could reduce investor confidence and lead to a decrease in the fund's net asset value.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
iShares MSCI Japan ETF (EWJ) could see its value impacted negatively in the short term due to Japan's disappointing current account figures, indicating a potential economic downturn.
EWJ, which aims to track the investment results of an index composed of Japanese equities, may be negatively influenced by the lower-than-expected current account data, as it reflects a possible decrease in economic momentum, potentially leading to a sell-off in the ETF.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80