Underlying Holdings Performance: JPSE tracks an index of Japanese stocks, so the performance of these companies directly impacts its price.

Currency Exchange Rates: Changes in the Yen/USD exchange rate influence JPSE's value since it holds Japanese assets denominated in Yen.

Investor Sentiment: Overall market sentiment toward Japanese equities and ETFs in general can drive demand and affect JPSE's price.

Expense Ratio: While not a direct price driver, the ETF's expense ratio affects long-term returns and relative attractiveness compared to similar ETFs.

Supply and Demand: Basic supply and demand dynamics for JPSE shares on the exchange influence its market price at any given time.

Geopolitical and Economic Events: Major events impacting the Japanese economy or global markets can affect investor confidence and JPSE's price.

Interest Rates: Changes in interest rates in Japan or the US can impact investor sentiment and the attractiveness of Japanese equities.

Index Reconstitution: Periodic rebalancing of the underlying index can lead to portfolio adjustments within the ETF, potentially impacting short-term price.