Japanese ETFs dropped slightly after Moody’s downgraded the country’s debt a notch to “Aa2”, Index Universe reports. The iShares MSCI Japan Index Fund lost 1.14%, the WisdomTree Japan Hedged Equity Fund fell 0.8% and the WisdomTree Dreyfus Japanese Yen ETF 0.47%.
The Rydex CurrencyShares Japanese Yen ETF eased 0.41%. The downgrade by Moody’s is in line with rating revisions by rivals Standard & Poor’s and Fitch. Japan’s outlook is stable, according to Moody’s.
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