Nikkei 225 Gains despite Underwhelming Economic Data


Jun. 7 2019, Updated 8:45 a.m. ET

Nikkei 225

The Nikkei 225 gained today after losing marginally yesterday. The index gained 0.53% today to end the day (and the week) at 20,844.71. During the week, the index gained 1.38%, advancing on two days and dropping on three. 2,404 stocks gained on the Tokyo Stock Exchange today, while 1,078 fell.

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Economic data was disappointing

Today, Japan’s Statistics Bureau released consumption data for April. While the consumption expenditure rose 1.3% in real terms in April on a year-over-year basis, the same fell 1.4% over March’s. Analysts were expecting a 2.6% increase on a year-over-year basis and a -0.3% fall over March 2019. On a positive note, average cash earnings fell less than expected.

In a separate release, Japan’s Cabinet office released indexes of business conditions for April today. The data pointed to worsening conditions. Consumer confidence came in at the lowest since February 2016.

Japan-focused ETFs

On June 6, all major Japan-focused ETFs moved only marginally. The iShares MSCI Japan ETF (EWJ) gained 0.11%, while the WisdomTree Japan Hedged Equity Fund (DXJ) lost 0.12%. The JPMorgan BetaBuilders Japan ETF (BBJP) stayed steady yesterday.

KOSPI gains too

South Korea’s KOSPI index gained marginally today. The index advanced 0.16% to end the day and the week at 2,072.33. The index gained 1.5% this week. Yesterday, the iShares MSCI South Korea Capped ETF (EWY) stayed steady on the NYSE Arca.


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