The support in Japanese equities could also help bolster Japan-related ETFs, such as the iShares MSCI Japan ETF (NYSEArca: EWJ), Xtrackers Japan JPX-Nikkei 400 Equity ETF (NYSEArca: JPN) and iShares JPX-Nikkei 400 ETF (NYSEArca: JPXN).
The BOJ has been buying alternative index-based funds. For instance, the central bank has acquired Japan-listed ETFs that track the JPX-Nikkei 400 Index, which also serves as the underlying benchmark for JPN and JPXN.
Related: 3 Japan ETFs Look Like Bargain Picks
The JPX-Nikkei 400 Index was launched in January 2014 as a means of reinvigorating the Japanese equity market. The JPX-Nikkei 400 Index employs a rigorous screening process based on return on equity, cumulative operating profit and market capitalization to select high-quality, capital-efficient Japanese companies.
For more information on the Japanese markets, visit our Japan category.