U.S., Japan To Hold First Weapons Cooperation Meeting In June; Defense Officials From Japan And U.S. Will Meet In Tokyo Early Next Month To Discuss Weapon Development; 2-Day Meeting Between Japan & U.S. Will Begin On June 10 With Discussion On Ramping Up Co-production Of Patriot Surface-To-Air Missiles, Others
Portfolio Pulse from Benzinga Newsdesk
U.S. and Japan will hold their first weapons cooperation meeting in Tokyo on June 10-11 to discuss weapon development and co-production of Patriot surface-to-air missiles.
May 29, 2024 | 9:07 pm
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POSITIVE IMPACT
The iShares MSCI Japan ETF (EWJ) may see positive movement due to increased defense cooperation between the U.S. and Japan, potentially boosting Japan's defense sector.
The meeting indicates a strengthening of defense ties and potential increased defense spending in Japan, which could positively impact Japanese defense companies included in EWJ.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The SPDR S&P 500 ETF (SPY) might experience a slight positive impact due to the U.S. strengthening defense ties with Japan, potentially benefiting U.S. defense contractors.
While the direct impact on SPY is limited, the strengthening of U.S.-Japan defense cooperation could benefit U.S. defense contractors, which are part of the S&P 500 index.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60