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WisdomTree Japan Hedged Equity ETF (DXJ)

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  • May 30, 2013, 10:37 PM
    Investors rush to buy the tumbling Japanese stock market, with WisdomTree's (WETF) Japan Hedged Equity Fund (DXJ) raking in another $264M over the last week, according to XTF.com, the 3rd largest inflow of any ETF. The crazy turnaround in Nikkei futures this morning on word Japan's national pension fund is considering boosting its equity allocation carries through to Tokyo, the Nikkei +1.8%.
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  • May 30, 2013, 7:35 AM
    Nikkei futures go nuts, reversing most of a 5% overnight plunge on word Japan's public pension fund is considering shifting to a more pro-equity stance. They're off just 0.4% at the moment. NKY -1% premarket.
    | 13 Comments
  • May 30, 2013, 7:24 AM
    The recently-plunging Nikkei may have already solved this issue, but Japan's giant public pension fund (GPIF) is considering a change in strategy that would otherwise force it to sell stocks (EWJ, DXJ) and buy JGBs (JGBS) as equities rally and bond prices fall. No significant change in policy has been made since 2006. Of interest: Last night's 5% dive in stocks failed to put in a bid for JGBs, the yield on the 10-year flat at 0.89%.
    | 3 Comments
  • May 29, 2013, 9:11 AM
    Investors pulled money out of real estate yesterday, with the iShares Dow Jones U.S. Real Estate ETF (IYR) losing 4% of its AUM. Notably garnering assets yesterday were the Consumer Staples SPDR (XLP), the MSCI Germany ETF (EWG), and the Dow Jones U.S. Tech ETF (IYW) - each adding nearly 4%. The dip-buyers were out on the MSCI Japan (EWJ) and Japan Hedged Equity (DXJ) funds - they added nearly 2% in AUM.
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  • May 29, 2013, 7:28 AM
    Skittishness in the markets has the yen (FXY) resuming gains against the dollar, with dollar/yen sliding 1.2% to ¥101.13. After a couple of frightening plunges in the past few sessions, the Nikkei took the yen's gain rather well, falling just 0.9% to 14,189. EWJ -1.7%, DXJ -1.5% premarket. Action to eye: The JGB market as the 10-year yield carves out a new Y/Y high, up 4 bps to 0.93%
    | 2 Comments
  • May 24, 2013, 2:19 PM
    Soaring volatility on the Nikkei isn't stopping investors from scooping up options "with something approaching glee," according to SIG's derivatives team (for the uninitiated, higher vols mean higher options prices). Most of the buying in the Japan ETF space is in the form of calls as dip buyers do what they've become accustomed to doing. Two popular ones, EWJ and DXJ are off nearly 10% since Wed. afternoon.
    | 2 Comments
  • May 24, 2013, 7:01 AM
    Stock index futures are shaky after an ugly session in Japan. Following its 7.3% plunge on Thursday, shares bounced nearly 4% as the yen resumed sinking. This soon reversed and shares plunged anew - dropping about 7% from their session high. The Nikkei eventually eked out a small gain as the yen (FXY) closed stronger again, dollar/yen falling 0.6% to ¥101.46. S&P 500 (SPY) futures -0.5%, Nasdaq 100 (QQQ) -0.5%. Japan: EWJ -2.6%, DXJ -3.7% premarket. Europe (FEZ) -0.5%.
    | 2 Comments
  • May 24, 2013, 3:08 AM
    Japanese shares end +0.6% following a volatile session in which stocks rose and fell by over 3% vs the close yesterday, when they slumped 7.3%. The plunge on Thursday was "just a speed bump" given this year's strong returns, says U.S. fund manager Audrey Kaplan. Improving economic conditions "will support the market going forward." Hong Kong flat, China +0.6%, India +0.3%.
    | 2 Comments
  • May 23, 2013, 9:07 PM
    A rebound in Tokyo sees the Nikkei (EWJ) gaining 3% in early action following yesterday's 7% dive. A weaker yen (FXY) is helping, dollar/yen gaining 0.4% to ¥102.37.
    | 7 Comments
  • May 23, 2013, 9:21 AM
    WisdomTree (WETF) tumbles 5.2% premarket following Japan's overnight crash. The stock's more than a double this year as money has poured into its Japan Hedged Equity Fund (DXJ), which is off 7.3% premarket. Another yen-hedged Japan fund - Deutsche's far smaller DBX ETF Trust (DBJP) - is off 8.3%.
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  • May 23, 2013, 7:02 AM
    "I'll take 'Kiss of Death Magazine Covers' for minus 7%, Alex," tweets a clever fellow as this week's The Economist cover shows Japan PE Shinzo Abe flying through the air like Superman. DXJ -6.9% premarket.
    | 5 Comments
  • May 23, 2013, 4:42 AM
    Even Japanese stocks are subject to the law of gravity (who knew?) as a confluence of factors sends the Nikkei (EWJ, DXJ) plunging 7.3% on the session (the swing from intraday high to low was ~9%). Yields on JGB 10s (JGBL) spiked above 1% at one point as an already skittish and volatile market was further rattled by what have generally been perceived as hawkish comments out of Ben Bernanke and other Fed officials on Wednesday. Yields pulled back in late trading. Compounding the problem for Japanese stocks was the yen (FXY), which has strengthened some 2% against the dollar to 101.16 most recently. (See also: China HSBC flash PMI shows contraction)
    | 8 Comments
  • May 21, 2013, 8:39 AM
    Following on the success of currency-hedged ETFs like those for Japan - the DXJ and the DBJP - Deutsche Bank plans the May 31 launch of the MSCI Germany Hedged Equity Fund (DBGR). It adds to Deutsche's suite of currency-hedged funds: DBEF, DBEM, DBBR. WisdomTree - the creator of DXJ - is prepping its own German Hedged Equity Fund.
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  • May 20, 2013, 11:54 AM
    Maybe the best synthetic way to play the dramatic changes in Japan (yen down, stocks up) is U.S. ETF provider WisdomTree (WETF). It's up 2.5% today - pushing its YTD gain to nearly 125% - as its Japan Hedged Equity Fund (DXJ) moves past $10B in AUM. The once-tiny fund has received about $7B in inflows this year and now threatens EWJ ($12.26B AUM) for dominance in the Japan ETF space.
    | 2 Comments
  • May 20, 2013, 4:57 AM
    The Japanese economy is slowly improving, the government says, pointing to evidence that exports and factory output are beginning to show signs of life. The upgraded economic assessment is the first upbeat report in two months. Additionally, Reuters Tankan survey showed a sixth consecutive month of improving manufacturer sentiment in Japan, as exporters cheer the weak yen. The index printed at 7, the first positive read in more than a year. The country's Economics Minister says the stage is set for a "V-shaped recovery." The rosy outlook was enough to boost the Nikkei (EWJ, DXJ)) 1.47% on the session.
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  • May 16, 2013, 2:44 PM
    It's Japan and then there's everything else. Of the top 2013 gainers in assets among ETFs, the Japan Hedged Equity Fund (DXJ) and MSCI Japan Fund (EWJ) have brought in nearly $12B, about equal to the next 5 combined. If we're talking flows as a percentage of AUM, the rush into Japan funds is even more impressive. The low-volatility sector stands out as well with the USMV garnering $2.5B against a previous base of just $1.1B.
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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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