The iShares MSCI Japan Index Fund (NYSEArca: EWJ) rose 1% in U.S. trading Wednesday afternoon, following the Nikkei Stock Average higher despite more earthquakes this week and an upgrade of Japan’s nuclear crisis.
The operator of Japan’s troubled nuclear plant on Wednesday said it was still working on a plan to end the crisis, Reuters reported.
One month after a devastating earthquake and tsunami hit Japan, regulators have raised the nuclear crisis rating from level 5 to level 7. This is parallel to Chernobyl, thought to be the worst nuclear crisis in recent history. Still, exchange traded funds (ETFs) that invest in Japanese stocks have managed to trade sideways this week. [Aftershock May Rattle Japan ETF.]
However, iShares MSCI Japan is down about 8.3% for the month. The ETF is weighted heavily in industrials and consumer discretionary and top holdings include Toyota and Honda Motor Corp. [Japan ETF Steady.]
iShares MSCI Japan
