The iShares MSCI Japan Index Fund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of publicly traded securities in the Japanese market, as measured by the MSCI Japan Index.
See more details on sponsor's website
Thursday, May 16, 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.
Comment!
Thursday, May 16, 6:26 AM
Unexpectedly weak capital spending marred an otherwise decent Japan GDP report, weighing on the Nikkei (EWJ, DXJ), which fell 0.39% but still held onto the 15,000 level. The yen (FXY) was firm against the dollar for most of session, trading around ¥102, but has since lost ground, falling 0.40% to ¥102.60.
Comment!
Wednesday, May 15, 3:26 PM
The Japanese bull market is too big of a deal to try and get cute, says Jeff Gundlach (video), advising not to try and time a market up 66% in 6 months. If QE is your reason for owning U.S. stocks, he says, why not pile into Japan (EWJ) where the asset purchase program is far larger? Maybe as leveraged as anything to the Japanese bull market is American ETF provider WisdomTree (WETF +3.5%), more than doubling this year as its hedged Japan equity fund (DXJ) reels in billions in assets.
4 Comments[Global & FX]
Wednesday, May 15, 7:32 AM
The Nikkei (EWJ, DXJ) soared another 2.3% overnight to top 15K for the first time since 2007 as the yen (FXY) slid 0.3% to a new multi-year low of ¥102.65. Leading was Sony (SNE), up 10% following Dan Loeb's push for a breakup. Toyota (TM) paced the exporters with a 3.7% gain. JGBs (JGBL) were calm, the yield on the 10-year flat at 0.86%.
4 Comments[Global & FX, On the Move]
Tuesday, May 14, 10:42 AM
"Contrarians should start buying emerging markets (EEM, DEM, VWO) and think about global energy (XLE) and material companies (XLB) and commodities (DBC)," says BAML's John Bilton, noting a "marked uptick" in concern about China (FXI, CAF) in his firm's latest fund manger survey. One-in-four now consider a Chinese hard landing as the biggest risk to their investment. Where respondents are not fearful? Japan (EWJ, DXJ). (previous)
4 Comments[Global & FX, Commodities]
Tuesday, May 14, 7:21 AM
An early look at the BAML May fund manager survey shows hedge fund equity exposure (VTI) at the highest in 7 years, +45%. Commodity exposure (DBC) is a negative 29%. Cash is at 4.3%. Sectors: It's a record-low exposure to energy (XLE) at -17%. Japan (EWJ, DXJ) at +31% is the highest in 7 years.
1 Comment
Monday, May 13, 4:56 AM
The yen (FXY) continues its slide , falling to a new four-and-a-half year low against the dollar, helping the Nikkei (NKY) post another triple-digit gain on the session, rising 1.2% to 14782, its highest level since January 2008. The weak yen comes on the heels of the G7's reportedly amicable meeting over the weekend, at which officials were generally supportive of the BOJ's policies and reiterated that Japan's goal is to fight deflation not engage in the targeting of exchange rates.
4 Comments[Global & FX]
Sunday, May 12, 9:49 PM
In Japan, the Nikkei (NKY) scales yet another new five-year high, rising 1.39% ahead of key Chinese economic data.
Comment!
Friday, May 10, 4:37 AM
For the first time since April of 2009, the yen (FXY) fell through the 100-level against the dollar, helping the Nikkei rally nearly 3% on the session and almost 7% on the week. Japanese equities (EWJ) are now trading at levels last seen in January of 2008. Japanese capital flows data finally showed what many had been waiting for since BOJ Governor Kuroda's shot across the bow at deflation: an outflow, as Japanese investors became net buyers of foreign bonds.
6 Comments[Global & FX]
Wednesday, May 8, 4:33 AM
Fears that flagging demand in the U.S. and Europe would weigh heavily on China's trade data didn't play out, as exports grew 14.7% in April, helping the country swing to a surplus of $18.16B after posting a slight deficit in March. The data surprised analysts, even as some say the numbers may be inflated: "This probably reflects some overinvoicing [as] it was inconsistent with cargo volumes," one economist tells WSJ. Nevertheless, the data serves to buoy regional markets as the Nikkei (NKY) continues its ascent in Japan, rising 0.74% to yet another new five-year record high.
Comment![Global & FX]
Tuesday, May 7, 4:37 AM
In Japan, stocks (EWJ) come off a long weekend well-rested and promptly rally to near five-year highs as the Nikkei surges 3.55% on the back of Friday's strong U.S. jobs data. Meanwhile, Australia's central bank cut rates by 25 basis points, sending the aussie (FXA) down 0.6% to two month lows against the dollar.
5 Comments
Friday, May 3, 8:20 AM
"Long Japan, Short Rwanda," is the title of a report from BAML suggesting the emerging market debt sector (EMB) is getting a bit frothy. Rwanda last week sold $400M of 10-year notes priced to yield 6.87%. The amount represents 5.5% of the country's GDP and the deal was 10x oversubscribed. Better bets, says the report, are Japanese equities (EWJ, DXJ) and U.S. housing (XHB).
Comment![Global & FX]
Monday, April 22, 2:55 PM
The rally in Japanese equities is just getting started, Morgan Creek's Mark Yusko told a Grant's conference last week. Stocks there remain cheap by any number of metrics and, a bonus, companies have dealt with persistent deflation by relentlessly slashing costs - meaning strong profits on any incremental business. All that's needed is a little growth and "Abenomics" should cure that. DXJ +27.5% YTD.
3 Comments[Global & FX]
Tuesday, April 16, 10:48 AMBumping its position in Japanese equities to 16% overweight from 6%, Credit Suisse says stock prices remain cheap, there is little constraint on how much the BOJ can pump, and it will do so until dollar/yen hits ¥110. Watch money pour into stocks, says CS, once pension funds and retail investors realize inflation is set to rise. EWJ +16% YTD.
Comment![Global & FX]
Tuesday, April 16, 8:28 AM
After continuing to strengthen sharply in early trade overnight, the yen is back in full retreat, down more than 1% vs. the dollar which is now buying ¥97.88. Along with the big reversal came a big swing in the Nikkei, which fell more than 2% at one point, but closed down just 0.4%. FXY -1.1%, EWJ +0.6%, DXJ +0.5% premarket.
Comment![Global & FX, On the Move]
Cabeza Howe: $ECON at record high last week. In the past each time it made a high it declined for at least a month not long after. Buy ONLY AFTER dips.
10/25/12
•!Report Abuse
Hillbilly Stock Star Interesting Hugh Hendry note, bullish USA growth, EWJ overvalued, other interesting notes on Zero Hedge.
4/29/12
Reply
(11)
•!Report Abuse
View all 11 replies
Hillbilly Stock Star: Sounded kinda China bearish & Paulson short of Euro junk could get clock cleaned!
4/29/12
•!Report Abuse
Dr. Kris: I'm a ZH groupie.If I had only one person to follow on twitter, it would be ZH...and then GS Elevator, just for the delightful arrogance.
4/30/12
•!Report Abuse
Michael A. Gayed Rather amazing how inflation targeting by the BoJ pushed the Nikkei (EWJ/NKY) up so strongly isnt it?
3/2/12
Reply
(2)
•!Report Abuse
View all 2 replies
jdub2788: When does inflation turn into a bad thing?
3/2/12
•!Report Abuse
Josh Krause: Kikkei up in nominal Yen related numbers. It's not going to do so hot against the dollar.