WisdomTree Japan Hedged Equity ETF
 (DXJ)

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  • Feb. 5, 2015, 3:36 PM
    • "The government’s choice for the BoJ board sends a clear signal in favor of on-going monetary policy accommodation," says HSBC's Izumi Devalier,  now expecting additional monetary stimulus as early as April.
    • Prime Minister Shinzo Abe last night nominated Waseda University professor Yutaka Harada to the BOJ's nine-member policy board. He's replacing Ryuzo Miyao, who's not exactly a hawk either.
    • More from Devalier: "Mr. Harada’s addition will undoubtedly tilt the board to an even more dovish direction. A monetarist and staunch proponent of PM Abe’s reflationary policies, Mr. Harada has long argued that insufficient monetary easing was a root cause of Japan’s long stagnation and deflation." Harada's preference for more easing, says Devalier, is JGB purchases instead of ETF buys.
    • The yen (NYSEARCA:FXY) is lower by 0.3% today, with dollar/yen at ¥117.56.
    • ETFs: DXJ, EWJ, FXY, YCS, JGBS, JGBD, JYN, NKY, DBJP, EZJ, EWV, JPNL, YCL, ITF, JGBL, JPP, JGBT, HEWJ, JGBB, FJP, DXJF
    | Feb. 5, 2015, 3:36 PM | 3 Comments
  • Jan. 25, 2015, 5:00 AM
    • "Some of the pessimism prevailing in Davos this year is a bit exaggerated," said Bank of Japan Governor Haruhiko Kuroda on Saturday, as he welcomed the ECB's decision to embark on a huge bond-buying spree.
    • Along with the diving price of oil, the ECB move could be "great for the world economy," he added.
    • Kuroda also announced that he expects the Japanese economy to grow by around 2% in fiscal 2015.
    • ETFs: DXJ, EWJ, DFJ, NKY, DBJP, EZJ, EWV, JPNL, DXJS, SCJ, JSC, ITF, JPP, HEWJ, FJP, QJPN, JPMV, DXJT, DXJR, DXJH, DXJC, DXJF
    | Jan. 25, 2015, 5:00 AM | 9 Comments
  • Jan. 21, 2015, 1:53 AM
    • As widely expected, the Bank of Japan held off on expanding its massive stimulus program today, but it did enlarge a loan program aimed at encouraging banks to boost lending.
    • The BOJ unexpectedly expanded monetary stimulus in October last year as soft domestic demand and slumping oil prices slowed consumer inflation. However, oil prices have lost nearly half of their value since then, keeping the central bank under pressure.
    • The BOJ also cut its core consumer inflation forecast for the year beginning in April to 1% from 1.7%, but raised its inflation forecast for fiscal 2016 to 2.2% from 2.1%.
    • The Nikkei closed down 0.5% on the news.
    • Previously: BOJ policymakers to gather for rate review (Jan. 19 2015)
    • ETFs: DXJ, EWJ, DFJ, NKY, DBJP, EZJ, EWV, JPNL, DXJS, SCJ, JSC, ITF, JPP, HEWJ, FJP, QJPN, JPMV, DXJT, DXJR, DXJH, DXJC, DXJF
    | Jan. 21, 2015, 1:53 AM
  • Jan. 19, 2015, 2:03 AM
    • As slumping oil prices keep inflation further away from their 2% target, Bank of Japan policymakers will gather for a rate review this week, to determine if they can hold off on expanding stimulus.
    • Back in October, the BOJ justified its unexpected expansion of quantitative and qualitative easing as aimed at preventing oil price falls, and a subsequent slowdown in price rises, from weighing on inflation expectations.
    • "By tying its October action to oil moves, the BOJ fell into its own trap," said Izuru Kato, chief economist at Totan Research. "Cheap oil benefits a huge importer like Japan. It's only a problem for the BOJ."
    • ETFs: DXJ, EWJ, DFJ, NKY, DBJP, EZJ, EWV, JPNL, DXJS, SCJ, JSC, ITF, JPP, HEWJ, FJP, QJPN, JPMV, DXJT, DXJR, DXJH, DXJC, DXJF
    | Jan. 19, 2015, 2:03 AM
  • Jan. 15, 2015, 1:29 PM
    • Ridiculous long-term interest rates in Japan have gotten even more so since the central bank began buying massive quantities of government paper, with the 10-year JGB yield falling at last check to 0.25%.
    • The vanishing rate has made it impossible for insurers to generate enough returns to be able pay benefits to policyholders, and Nippon Life is planning a premium hike in February, with others likely following. Fukoku Mutual Life Insurance is contemplating halting sales of lump-sum endowment insurance and other products.
    • Money funds have to deal with the short end of the curve, and rates are negative all the way out to 5 years, where the yield is now 0.00%.
    • Aware of this, the BOJ nevertheless boosted the asset purchase program in October, but some members don't like the idea of killing earnings at financials and giving the impression the QE program is less stimulus and more a scheme enabling the government's deficit spending. "We have caused tremendous trouble for the financial industry," says one BOJ member.
    • ETFs: DXJ, EWJ, NKY, DBJP, EZJ, EWV, JPNL, ITF, JPP, HEWJ, FJP, DXJF,
    • JGB ETFs: JGBS, JGBD, JGBL, JGBT, JGBB
    | Jan. 15, 2015, 1:29 PM | 6 Comments
  • Jan. 14, 2015, 2:18 AM
    • Seeking to support growth, Japanese Prime Minister Shinzo Abe's cabinet approved a record ¥96.3T ($814B) budget while cutting new borrowing for a third year in a row.
    • Rising revenues following the sales tax increase last April enabled Abe to raise spending without increasing the proportion financed by new government bonds, though the total national debt is still well over twice the country's GDP.
    • Previously: Japan prepares record budget (Jan. 11 2015)
    • ETFs: DXJ, EWJ, DFJ, NKY, DBJP, EZJ, EWV, JPNL, DXJS, SCJ, JSC, ITF, JPP, HEWJ, FJP, QJPN, JPMV, DXJT, DXJR, DXJH, DXJC, DXJF
    | Jan. 14, 2015, 2:18 AM | 1 Comment
  • Jan. 11, 2015, 11:39 AM
    • Japan's government is set to announce a record budget for next fiscal year of more than $810B but will cut bond issuance by ¥4.4T to ¥36.9T, the third decrease in a row and the lowest level in six years.
    • The draft budget for the year from April is aimed at trimming Japan's public debt, which is well over twice the country's GDP after years of sluggish growth and huge stimulus spending.
    • ETFs: DXJ, EWJ, DFJ, NKY, DBJP, EZJ, EWV, JPNL, DXJS, SCJ, JSC, ITF, JPP, HEWJ, FJP, QJPN, JPMV, DXJT, DXJR, DXJH, DXJC, DXJF
    | Jan. 11, 2015, 11:39 AM | 8 Comments
  • Jan. 6, 2015, 2:31 AM
    • Japanese stocks led falls across Asia today amid a selloff in global markets due to falling oil prices and concerns about the euro zone. The Nikkei closed down 3% - its worst day since mid-March.
    • Meanwhile, China's HSBC services PMI rose to 53.4 last month from November's 53, growing at its fastest pace in three months in December.
    • The survey helped boost shares in China, with Shanghai closing up 0.1%, after recovering from earlier losses in the session.
    • ETFs: DXJ, EWJ, DFJ, NKY, DBJP, EZJ, EWV, JPNL, DXJS, SCJ, JSC, ITF, JPP, HEWJ, FJP, QJPN, JPMV, DXJT, DXJR, DXJH, DXJC, DXJF
    | Jan. 6, 2015, 2:31 AM
  • Dec. 30, 2014, 2:19 AM
    • In yet another bid toward profitability and economic growth, Japan's ruling coalition has approved a tax reform plan that will trim the corporate tax rate from April.
    • Coming on top of a recent $29B stimulus package, the plan will likely cut the overall effective corporate tax rate by 2.51 percentage points to 32.1% - confirming a pledge made by Abe in June to lower the corporate tax rate to below 30% in the coming years.
    • ETFs: DXJ, EWJ, DFJ, NKY, DBJP, EZJ, EWV, JPNL, DXJS, SCJ, JSC, ITF, JPP, HEWJ, FJP, QJPN, JPMV, DXJT, DXJR, DXJH, DXJC, DXJF
    | Dec. 30, 2014, 2:19 AM | 1 Comment
  • Dec. 28, 2014, 10:35 AM
    | Dec. 28, 2014, 10:35 AM | 13 Comments
  • Dec. 26, 2014, 2:33 AM
    • Keeping the BOJ under pressure, Japan core consumer inflation slowed to 0.7% in November, largely due to sliding oil prices. The figure was far below the central bank's 2% target.
    • Factory output unexpectedly fell and real wages marked their steepest drop in five years, dealing a blow to PM Shinzo Abe's stimulus policies aimed at pulling the world’s third-largest economy out of stagnation.
    • The Nikkei closed slightly up at 17,819.
    • ETFs: DXJ, EWJ, DFJ, NKY, DBJP, EZJ, EWV, JPNL, DXJS, SCJ, JSC, ITF, JPP, HEWJ, FJP, QJPN, JPMV, DXJT, DXJR, DXJH, DXJC, DXJF
    | Dec. 26, 2014, 2:33 AM | 9 Comments
  • Dec. 24, 2014, 7:42 AM
    • A new ¥3.5T yen ($29B) stimulus package is expected to be approved by Prime Minister Shinzo Abe's cabinet on Saturday.
    • Japan is looking to give a quick boost to lagging regional economies and low-income households with subsidies, merchandise vouchers and other schemes.
    • The plan will also urge the Bank of Japan to hit its 2% inflation goal as quickly as possible, and promise to do its utmost to halve Japan's primary budget deficit in the fiscal year starting next April, to curb a runaway public debt.
    • Previously: Abe re-elected as Japan’s Prime Minister (Dec. 24 2014)
    • ETFs: DXJ, EWJ, DFJ, NKY, DBJP, EZJ, EWV, JPNL, DXJS, SCJ, JSC, ITF, JPP, HEWJ, FJP, QJPN, JPMV, DXJT, DXJR, DXJH, DXJC, DXJF
    | Dec. 24, 2014, 7:42 AM | 1 Comment
  • Dec. 19, 2014, 2:52 AM
    | Dec. 19, 2014, 2:52 AM
  • Dec. 18, 2014, 2:01 AM
    • Japanese shares rallied today following the Fed's upbeat assessment on the U.S. economy and report that the country will spend up to $30B in stimulus.
    • Prime Minister Shinzo Abe plans to finalize the stimulus package on Dec. 27, as part of efforts to lift the economy out of a recession caused by the hit from a sales tax hike in April.
    • Pulling away from a 6-1/2-week low, Japan's Nikkei share average jumped 2.3%, ending up 17,210.
    • ETFs: DXJ, EWJ, DFJ, NKY, DBJP, EZJ, EWV, JPNL, DXJS, SCJ, JSC, ITF, JPP, HEWJ, FJP, QJPN, JPMV, DXJT, DXJR, DXJH, DXJC, DXJF
    | Dec. 18, 2014, 2:01 AM | 3 Comments
  • Dec. 17, 2014, 11:44 AM
    • Both the WisdomTree Japan Hedged ETF (NYSEARCA:DXJ) and the Deutsche X-trackers MSCI Japan Hedged Equity ETF (NYSEARCA:DBJP) hedge their natural long yen exposure by shorting the currency, leading to profits when it depreciates.
    • The yen's big decline normally wouldn't be an issue, but the quickness of the slide and the timing late in the year gave neither fund the necessary time to "wash" out those gains.
    • DXJ is estimated to pay out more than $4 per share in short- and long-term capital gains (about 8% of NAV) on December 26, while DBJP's should be about $3.60 per share in ordinary income (about 9% of NAV).
    • Holders of both funds are likely going to face a tax bill, but their outperformance relative to the unhedged iShares MSCI Japan ETF (NYSEARCA:EWJ) - in the area of 1K-1.2K basis points - will provide nice consolation.
    | Dec. 17, 2014, 11:44 AM | 1 Comment
  • Dec. 15, 2014, 2:18 AM
    • Japanese stocks fell today, drawing little momentum from Prime Minister Shinzo Abe's landslide win in a snap election over the weekend.
    • The Nikkei closed down 1.6% at 17,099, as oil prices sank to fresh 5-1/2 year lows, hitting energy and commodity stocks and exporters.
    • The win for Abe ensures further reflationary economic policies ahead, but record low voter turnout points to broad dissatisfaction with his performance.
    • ETFs: DXJ, EWJ, DFJ, NKY, DBJP, EZJ, EWV, JPNL, DXJS, SCJ, JSC, ITF, JPP, HEWJ, FJP, QJPN, JPMV, DXJT, DXJR, DXJH, DXJC, DXJF
    | Dec. 15, 2014, 2:18 AM
DXJ Description
WisdomTree Japan Hedged Equity Fund seeks investment results that closely correspond to the price and yield performance, before fees and expenses, of the WisdomTree Japan Hedged Equity Index. The Fund employs an investment approach designed to track the performance of the WisdomTree Japan Hedged Equity Index. The Index and the Fund are designed to provide exposure to equity securities in Japan, while at the same time hedging exposure to fluctuations between the value of the U.S. dollar and and the Japanese yen. The Index and the Fund seek to track the performance of equity securities in Japan that is attributable solely to stock prices without the effect of currency fluctuations.
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Country: Japan
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