Bloomberg Earlier Reported 'Japan's Biggest Banks Forecast Record Profits As Rates Rise'
Portfolio Pulse from Benzinga Newsdesk
Japan's biggest banks, including Sumitomo Mitsui, are forecasting record profits as interest rates rise. Sumitomo Mitsui expects a 10% profit increase this fiscal year.
May 15, 2024 | 12:47 pm
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POSITIVE IMPACT
The iShares MSCI Japan ETF (EWJ) is likely to benefit from the forecasted record profits of Japan's biggest banks, including Sumitomo Mitsui, due to rising interest rates.
EWJ holds significant exposure to Japanese financial institutions. The forecasted profit increases for major banks like Sumitomo Mitsui due to rising interest rates are likely to positively impact EWJ's performance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80