Reported Earlier, au Jibun Bank Japan Services Purchasing Managers' Index Preliminary For October 49.3 Vs. 53.1 Prior
Portfolio Pulse from Benzinga Newsdesk
The au Jibun Bank Japan Services Purchasing Managers' Index (PMI) for October has decreased to 49.3 from 53.1 in the previous month, indicating a contraction in the services sector.
October 24, 2024 | 4:23 am
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NEGATIVE IMPACT
The decline in Japan's Services PMI to 49.3 may negatively impact the JPMorgan BetaBuilders Japan ETF (BBJP), as it suggests a contraction in the services sector.
BBJP is an ETF that tracks Japanese equities. A contraction in the services sector, as indicated by the PMI drop, could lead to negative sentiment and potential declines in the ETF's value.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
WisdomTree Japan Hedged Equity Fund (DXJ) might experience negative sentiment due to the drop in Japan's Services PMI to 49.3, indicating a contraction.
DXJ is exposed to Japanese equities, and a contraction in the services sector could lead to negative investor sentiment, affecting the fund's performance.
CONFIDENCE 85
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
iShares MSCI Japan ETF (EWJ) may be negatively impacted by the drop in Japan's Services PMI to 49.3, indicating a contraction in the sector.
EWJ tracks Japanese equities, and a contraction in the services sector could lead to negative sentiment, potentially affecting the ETF's performance.
CONFIDENCE 88
IMPORTANCE 55
RELEVANCE 65