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Precidian MAXIS Nikkei 225 Index ETF (NKY)

  • Jan. 8, 2013, 5:25 PM
    Gundlach: His best idea remains long Japanese stocks and short the yen, though he expects a nice correction after big moves in both. The Nikkei could easily go up another 10% without being close to overvalued. He adds Chinese stocks to the list as well, though as with the Nikkei, Shanghai has had a big recent run and is due for a correction.
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  • Jan. 4, 2013, 7:39 AM
    Japan parties in its first session of the new year, the Nikkei gaining 2.8% to its highest close since March 2011. Leading the gains were exporters, including Toyota (TM) +6.4%, catching up to big gains in the States over the past week. The slide in the yen picks up steam, the dollar +1.2% and buying ¥88.25. Hedged vs. unhedged Japan stock ETFs over the past 3 months.
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  • Dec. 31, 2012, 11:47 AM
    Japan's Nikkei gained 23% in 2012, its best gain since 2005, but the popular EWJ is up just 6.3%, thanks to a declining yen (FXY -11.3%). The DXJ - hedged against currency fluctuations - is up 16.5% YTD. Another hedged fund, DBJP +20.5% YTD.
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  • Dec. 28, 2012, 7:48 AM
    Once again (previous) for the Japan stock bulls/yen bears - many factors are on your side, but contrary opinion isn't one of them. Add Goldman to the list believing the world has changed. It's picking up shares of exporters and banks in hopes the government will truly force yen devaluation. Tokyo gained another 0.7% overnight, and the dollar is at a 2-year high of ¥86.07.
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  • Dec. 26, 2012, 6:27 PM
    ""Ultimately, you must balance the budget ... To do that, you have so much more work to do than this tiny little issue about 2% of the population," says Jeff Gundlach, who remains pessimistic about fiscal cliff progress being made. He also continues to predict the yen will collapse thanks to Japan's giant public debt, lifting Japanese exports and stock prices in the process, and considers inexpensive Chinese stocks a good hedge against global turmoil. (previous)
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  • Dec. 26, 2012, 6:55 AM
    While you were celebrating the holiday, the Nikkei gained nearly another 3% over its last 2 sessions and the yen slid to a 20-month low vs. the dollar. Shinzo Abe was formally approved as PM last night, and he has vowed to reignite inflation and devalue the currency, and promises to force the BOJ to play along.
  • Dec. 23, 2012, 8:36 AM
    The BOJ must double its inflation target to 2% or the government will pass a law forcing it to do so, says incoming PM Shinzo Abe. BOJ Governor Shirakawa seemingly already waved the white flag on this matter last week, but he's also on record as saying 2% is unrealistic given Japan had a 1.3% average inflation rate even during the bubble years.
  • Dec. 18, 2012, 12:22 PM
    The BOJ has run out of options and currency debasement is all that's left, says Jeff Gundlach, explaining why long Japanese stocks is his most high-conviction idea at the moment. As for U.S. fixed income, he likes cash and short-term instruments. Investors in "yieldy" types of things like junk bonds may be about to get a wake-up call in 2013.
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  • Dec. 17, 2012, 9:59 AM
    One loses track of how many reform-minded Prime Ministers the entrenched powers and bureaucracies in Japan have chewed up and spit out over the last decade. Incoming PM Shinzo Abe himself is on go-round #2. He promises to do all but force the BOJ into helicopter drops of currency. The yen gapped lower on the election result, but has retaken much of that ground. FXY -0.2%.
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  • Dec. 16, 2012, 8:12 AM
    Exit polls show Japan's LDP gaining the big victory expected of it, garnering maybe 310 seats (out of 480 total) in the country's lower house of parliament. The win returns Shinzo Abe to the PM's role 5 years after he lost the job. Abe ran promising to goad the BOJ into far easier monetary policy, and stocks (up) and the yen (down) have responded over the past weeks.
  • Dec. 14, 2012, 2:51 PM
    Japan goes to the polls over the weekend, and the LDP is expected to have a big victory, ushering in Shinzo Abe as PM. Abe has been clear about the need for the BOJ to target a higher inflation rate. Stocks and the yen have responded - the Nikkei rising 12% in a month, and the yen nearing its YTD low vs. the dollar. Stay nimble. If the LDP wins by a smallish margin, Sunday night could be a tough one for trend-followers.
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  • Dec. 13, 2012, 8:12 AM
    Nikkei longs may consider lightening up ahead of this weekend's elections as positive sentiment on Japanese equities has reached levels associated with market sell-offs (but not always). Tokyo has gained nearly 15% in 2 months on hopes for incoming leadership forcing the BOJ to really get loose with monetary policy.
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  • Dec. 12, 2012, 8:04 AM
    Jeff Gundlach gets in on a recently popular trade - long Japanese equities and short the yen. The country is dead in the water, he says, with aggressive currency debasement about the only policy left, and cheap Japanese stocks are set to benefit. The dollar rises to its highest level vs. the yen 8 months, buying ¥82.89.
  • Dec. 7, 2012, 12:46 PM
    Why do investors continue to pour money into EWJ and expose themselves to currency risk when the DBJP offers the same Japanese stock exposure, but hedged against the yen? Another of Dennis Hudachek's 10 Overlooked ETFs is the INDA, tracking the same Indian index as the INP, but with lower expenses. And don't forget IAU, basically the same exposure as GLD, but at 15 bps cheaper per year.
  • Dec. 7, 2012, 7:24 AM
    Owners of Japanese stocks can take comfort that these sorts of things happen a lot closer to the bottom than the top: Deutsche Bank has halted equity coverage on 11 of 27 Japanese industries. Along with the move comes a further paring of the bank's headcount in Japan.
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  • Dec. 5, 2012, 3:41 PM
    Once a humble mail carrier, Japan Post has grown into a monster bureaucracy crushing Japan, writes Joseph Sternberg. Having chewed up and spit out former PM Koizumi who attempted to reform it, Japan Post is now looking to expand into college-savings, insurance, even home loans. Maybe of most import, JP's presence is threatening the country's participation in the major Trans-Pacific Partnership trade pact.
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NKY Description
The MAXISSM Nikkei 225 Index ETF seeks to provide investments results that correspond generally to the price and yield performance, before fees and expenses, of publicity traded securities in the Japanese market, as measured by the Nikkei 225 index.
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Country: Japan
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