Reported Earlier, Japan Exports (YoY) For December 9.8% Vs. 9.1% Est.; -0.2% Prior
Portfolio Pulse from Benzinga Newsdesk
Japan's year-on-year exports for December increased by 9.8%, surpassing the estimated 9.1% and showing a significant improvement from the prior -0.2%. This indicates a stronger than expected performance in Japan's export sector.
January 24, 2024 | 5:20 am
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POSITIVE IMPACT
The positive export data from Japan suggests a potential increase in economic activity, which could lead to a positive impact on the JPMorgan BetaBuilders Japan ETF (BBJP) in the short term.
As BBJP tracks a market-cap-weighted index of Japanese companies, better than expected export data is likely to have a positive effect on the Japanese market, and consequently on BBJP.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
The WisdomTree Japan Hedged Equity Fund (DXJ) may experience a positive short term impact due to the strong export data from Japan, as it holds Japanese equities with a hedge against the yen.
DXJ includes Japanese equities and hedges against the yen, so positive export data, which could strengthen the yen, may not adversely affect the ETF, potentially leading to a positive impact.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
iShares MSCI Japan ETF (EWJ), which tracks a market-cap-weighted index of Japanese stocks, may benefit in the short term from the positive export data indicating a robust economic environment in Japan.
EWJ's performance is closely tied to the Japanese economy. The positive export data suggests a healthier economy, which is likely to reflect positively on the ETF's performance.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70