08/05/2024 – 13:07
After Japanese stocks tumbled on Monday, Japan’s Finance Minister Shunichi Suzuki said investors need to keep a long-term perspective and remain calm. The Nikkei index on the Tokyo Stock Exchange fell 12.4% on Monday, its biggest one-day drop since October 1987.
“I hope they will judge the issues calmly,” Suzuki said, referring to Japanese investors who invest in stocks under a government program that offers tax breaks for long-term investments.
Regarding the yen’s sharp appreciation in recent weeks, which came after interventions by the Japanese government throughout July to defend the currency, Suzuki said it is desirable for exchange rates to move in a stable manner and reflect economic fundamentals.
According to him, due to market movements, the government should work together with the Bank of Japan (BoJ) on monetary policy. Source: Dow Jones Newswires.
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