The continuing crisis in Japan caused Japanese equities to fall sharply on Monday and stocks continued their slide on Tuesday.
The largest exchange traded fund focused on Japan, the iShares MSCI Japan Index Fund (EWJ), fell 7% on Monday. The ETF is likely to continue to decline in Tuesday’s trading as the Nikkei index fell another 11% before U.S. markets opened this morning.
EWJ tracks an index that measures the performance of the Japanese equity market aiming to capture 85% of the publicly available total market capitalization. Top holdings include Toyota Motor, Honda Motor,Mitsubishi UFJ Financial, and Canon.
Nuclear power plant explosions and threat of a nuclear melt down have rocked Japan following a massive earthquake and tsunami that struck the country last Friday.
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– ETF MarketPro Staff
March 15, 2011