Shares in Japan Slump as Bankruptcies Rise
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iShares MSCI Japan ETF (NYSE: EWJ) is expected to open lower as shares in Japan slumped overnight, with the Nikkei losing 2.09 percent. The downturn wiped out gains from Thursday making the index mostly flat on the week. Shares of Sony (NYSE: SNE), Nissan, and Toyota (NYSE: TM) were all down.
GDP in Japan for the first quarter was slightly higher than expected, showing growth of at 4.7 percent on an annualized basis vs. 4.5 percent expected. But the number of bankruptcies in Japan increased 7.2 percent in May vs. a decline of 6.7 previous.
GDP in Japan for the first quarter was slightly higher than expected, showing growth of at 4.7 percent on an annualized basis vs. 4.5 percent expected. But the number of bankruptcies in Japan increased 7.2 percent in May vs. a decline of 6.7 previous.
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