Another idea for broad large cap Japanese company exposure is the iShares MSCI Japan Index (EWJ) ETF.
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That helped fuel a nearly 13% gain in the MSCI Japan index since the beginning of the year.
The iShares MSCI Japan Index (EWJ) shows the same technical damage and was trading 7.6% lower pre-market Tuesday in New York.
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This fund outperformed the MSCI Japan Index during the post-rebound in 2009.
The iShares MSCI Japan Index Fund ( EWJ) gapped below support on April 4, which completed the daily top formation, lines d and e.
Chart Analysis : The iShares MSCI Japan Index ( EWJ) gapped lower on Thursday and is likely to show another down gap Friday and break the daily uptrend, line a.
The one-month earnings revision ratio for the MSCI Japan index, which compares increases to consensus earnings forecasts against reductions, was most recently recording more than two upgrades for every downgrade.
Of course an easy way to invest in any kind of Japanese stock market recovery is by purchasing share of iShares MSCI Japan Index fund ( EWJ), which is down about 1% so far this year.
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China's Shanghai Composite Index, meanwhile, is up 2.4%, while the overall MSCI Asia index outside Japan is up 1.3%.
Worries that the euro-zone crisis was flaring up again pushed the broad MSCI Asia ex-Japan index down 1.3% on Monday.
Ward's portfolio has risen 1.7% against the benchmark MSCI Asia Pacific Free ex-Japan index, which has fallen 13.3% since February.
This year, for instance, the fund was up 71% to Oct. 31, double the performance of the MSCI Combined Far East Free Ex-Japan Index.
The MSCI index of Asia Pacific stocks outside Japan was down 1.1 percent , with industrials and commodity-related stocks underperforming the most.
The MSCI index of Asia Pacific shares outside Japan was flat.
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Meanwhile, there is another product, the db X-trackers MSCI Japan Hedged Equity ETF (DBJP), which hedges perhaps the most globally recognized Japanese index from MSCI that investors have hardly even noticed.
The main reason: Any manager smart or lucky enough to have underweighted Japan in his portfolio was likely to have done better than the MSCI Europe and Far East index.
Japan accounts for the largest country weighting in the MSCI EAFE (Europe, Australia, Far East) index, a global stock index covering more than 20 countries.
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