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Byline: MURRAY COLEMAN
Japan exchange traded funds have taken investors on a bumpy ride.
In the past 30 days, the returns of iShares MSCI Japan sank to a bottom 26 ranking of IBD's tracking of 234 ETFs. As recently as three months ago, it was the 21st best performer. Go back six months and even 12 months when it was in the top 20.
In the past seven days, the iShares Japan ETF moved into the top five. Vanguard Pacific Vipers moved into the top 15. And iShares S&P/Topix 150 made it into the top 10.
So is the region headed for another upswing?
Concern about higher interest rates and a weaker yen sent Japanese markets plummeting in early February. But within the last week heading into Wednesday, the dollar has been sliding.
Since Feb. 25, it has lost 2% of its value to the yen. For the year it was flat.