Meanwhile, Exxon Mobile is looking at restructuring its $3 billion stake in a Japanese unit, TonenGeneral, Japan’s second-biggest refiner by capacity. While it is affirmed there is no intention to completely exit the Japanese market, restructuring is in the works. Reuters reported earlier that Exxon is looking to sell a majority of its stake in the refiner, and other assets in Japan, in a deal worth about $5 billion, reports WSJ.com.
The iShares MSCI Japan Index Fund (NYSEArca: EWJ) has about $5.3 billion in assets. The fund is down 14% over the past year. Rydex CurrencyShares Japanese Yen Trust ETF (NYSEArca: FXY) has about $731 million in assets under management. FXY is up 6.5% for the past year, due to the strength of the yen.
iShares MSCI Japan Index Fund
Read the disclaimer; Tom Lydon is a board member of the funds for Rydex|SGI.
Tisha Guerrero contributed to this article.