--- title: "Weekly Recap | ISHRS MSCI Japan -1.58%, a quiet, low-volume week" type: "News" locale: "en" url: "https://longbridge.com/en/news/299517419.md" description: "EWJ.US dropped 1.58% this week to close at $97, underperforming the S&P 500 by about 1.5 percentage points. The week was choppy: Monday (14 Sep) opened at $97.37 and closed at $97.58, Tuesday slipped to $96.92, Wednesday dipped to an intraday low of $96.23 before ending at $97.01, Thursday rebounded to $97.91, and Friday settled back at $97. The weekly range was $96.23 to $98.48, an amplitude of 2.31%. Friday’s volume of roughly 2.6m shares was below the daily average of 2." datetime: "2026-09-19T07:24:57.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/299517419.md) - [en](https://longbridge.com/en/news/299517419.md) - [zh-HK](https://longbridge.com/zh-HK/news/299517419.md) generator: "portal-rs" --- # Weekly Recap | ISHRS MSCI Japan -1.58%, a quiet, low-volume week ## The Week EWJ.US dropped 1.58% this week to close at $97, underperforming the S&P 500 by about 1.5 percentage points. The week was choppy: Monday (14 Sep) opened at $97.37 and closed at $97.58, Tuesday slipped to $96.92, Wednesday dipped to an intraday low of $96.23 before ending at $97.01, Thursday rebounded to $97.91, and Friday settled back at $97. The weekly range was $96.23 to $98.48, an amplitude of 2.31%. Friday’s volume of roughly 2.6m shares was below the daily average of 2.99m, leaving the tape quiet. The latest price at the end of the week was $97, close to the 60-session high of $98.785 but still holding above the 20-day average of $96.624. ## Sector News Macro and trade data dominated the Japan-related flow. August exports to the US rose 24.9% year on year, a sixth straight gain, led by autos, chip-making equipment, and construction and mining machines. After the Fed’s rate hike decision landed, Japanese and South Korean equities opened higher, with semiconductor names in focus. Some market commentary also flagged Taiwan as a vulnerable node in the AI supply chain, pointing to potential hedging demand in semiconductor ETFs. For a broad Japan ETF like EWJ, these stories matter more at the market-wide level than through any single constituent, with the export momentum and semiconductor rebalancing narrative framing most of the week’s discussion. ## The Week Ahead The coming week is light on Japan-specific events and heavier on US macro: Tuesday (22 Sep) brings the Richmond Fed composite index, Wednesday (23 Sep) weekly EIA crude and Cushing inventories, and Thursday (24 Sep) initial jobless claims, the current-account balance, new home sales, and natural-gas storage. For EWJ, these readings shape dollar direction and risk appetite, which flow through to the yen and Japan’s export complex. After a week in which the rate hike was digested, softer macro prints could revive questions about how long Japan’s export strength can hold. ## In Short The picture from this week is mixed. Export data remains strong and risk appetite recovered after the Fed move, but EWJ’s price action was modest and it lagged the S&P 500. Valuation sits near the upper end of its recent range: P/E of 15.49x and P/B of 1.58x, with the latest price close to the 60-session high. The latest session’s large-order flow showed a net-inflow tilt. There is no clean directional read here — macro and capital-flow signals lean constructive, while soft volume and relative underperformance argue for caution. The next test is whether US macro data can keep risk sentiment intact and whether Japan’s export momentum holds; that will decide if EWJ consolidates near the top of its range or gives back some of the recent advance. *This article is generated by LongbridgeAI from market data, for information only and not investment advice.* ### Related Stocks - [EWJ.US](https://longbridge.com/en/quote/EWJ.US.md) - [EWV.US](https://longbridge.com/en/quote/EWV.US.md) - [EZJ.US](https://longbridge.com/en/quote/EZJ.US.md) ## Related News & Research - [Japan 10Y Bond Yield Hits 30-year High](https://longbridge.com/en/news/298997025.md) - [JAPAN AUG CORPORATE GOODS (PRODUCER) PRICES +7.6% Y/Y (JULY REVISED UP TO +7.7% FROM +7.2%); MEDIAN FORECAST +7.4%](https://longbridge.com/en/news/298656085.md) - [JP Media Says BOJ to Raise Rates by 25 bps This Mth](https://longbridge.com/en/news/298298168.md) - [Japan's industrial output drops 1.7% M/M in August; retail sales rise 2.7% Y/Y](https://longbridge.com/en/news/300517541.md) - [Japan Aug Exports Rise 19.3% YoY, Beating Forecasts](https://longbridge.com/en/news/299110764.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**