Reported Earlier, Japan Building Approvals (MoM) For June -6.5% Vs. -6.5% Est.; 5.5% Prior
Portfolio Pulse from Benzinga Newsdesk
Japan's building approvals for June decreased by 6.5% month-over-month, matching the estimated decline but significantly worse than the 5.5% increase in the prior month.

August 06, 2024 | 4:53 am
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NEGATIVE IMPACT
BBJP, an ETF focused on Japanese equities, may see short-term pressure due to the decline in Japan's building approvals for June.
The decline in building approvals indicates a potential slowdown in Japan's construction sector, which could negatively impact the broader Japanese economy and, by extension, BBJP.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
DXJ, an ETF that hedges currency exposure to Japanese equities, might experience short-term negative impact due to the drop in Japan's building approvals.
The decline in building approvals suggests a potential economic slowdown in Japan, which could affect Japanese equities and thus impact DXJ.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
EWJ, an ETF that tracks Japanese stocks, may face short-term downward pressure due to the 6.5% decline in Japan's building approvals for June.
The significant drop in building approvals could signal a broader economic slowdown in Japan, potentially impacting Japanese stocks and, consequently, EWJ.
CONFIDENCE 88
IMPORTANCE 65
RELEVANCE 75