When encoding possibly unsafe data, is there a reason to encode >?
Current browsers' HTML parsers have no problems with uquoted >s
However, unfortunately, using regular expressions to "parse" HTML in JS is pretty common. (example: Ext.util.Format.stripTags). Also poorly written command line tools, IDEs, or Java classes etc. may not be sophisticated enough to determine the limiter of an opening tag.
So, you may run into problems with code like this:
(Note how the syntax highlighter treats this snippet!)