Reported Earlier, au Jibun Bank Japan Services Purchasing Managers' Index (PMI) Preliminary 49.8 Vs. 53.8 Prior
Portfolio Pulse from Benzinga Newsdesk
The au Jibun Bank Japan Services PMI has dropped to 49.8 from the previous 53.8, indicating a contraction in the services sector.
June 21, 2024 | 5:04 am
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NEGATIVE IMPACT
The drop in Japan's Services PMI to 49.8 from 53.8 suggests a contraction in the services sector, which could negatively impact the iShares MSCI Japan ETF (BBJP).
A lower PMI indicates a contraction in the services sector, which could lead to reduced investor confidence in Japanese equities, negatively impacting BBJP.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
WisdomTree Japan Hedged Equity Fund (DXJ) might see a negative impact due to the decline in Japan's Services PMI to 49.8, signaling a contraction.
The contraction in the services sector, as indicated by the lower PMI, could lead to reduced investor confidence in Japanese equities, negatively impacting DXJ.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The iShares MSCI Japan ETF (EWJ) may experience short-term negative effects due to the drop in Japan's Services PMI to 49.8, indicating a contraction.
A lower PMI indicates a contraction in the services sector, which could lead to reduced investor confidence in Japanese equities, negatively impacting EWJ.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80