Summary: After nice gains last week in Tokyo, stocks got off to a bumpy start due to the weak ISM data release in the U.S. on Friday and lower-than-expected corporate spending data today in Japan. Capex increased 11.9% in the quarter ended Sept. 30, but fell short of economists' estimates which were as high as 15%. Meanwhile, profit growth remained strong at 15.5%, for the 17th-straight quarter of gains. Wages however, were unchanged in October and have been disappointing, increasing less than $100 this year. Both investors and the Bank of Japan are expected to be watching important data releases over the next two weeks, ending with a BoJ rate setting decision on the 19th.
Related links: Commentary: Japan's Nikkei-225 and the Dollar/Yen Dance • Nice Week for Nikkei -- ADR Watch List • Positive Economic Data Supports Japan Stocks; More BoJ Watching • Bullish on Japan -- Nikkei Primed for Big Rally.
Potentially impacted stocks and ETFs: iShares MSCI Japan Index (EWJ), iShares S&P/TOPIX 150 (ITF)
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