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Japan’s Nikkei Stock Average Falls as US Credit Downgrade Spurs Asset Jitters, Lifts Yen (UPDATE 1)
3 Articles
3 Articles
Japan’s Nikkei Stock Average Falls as US Credit Downgrade Spurs Asset Jitters, Lifts Yen (UPDATE 1)
TOKYO, May 19 (Reuters) - Japan's Nikkei share average fell on Monday after Moody's downgrade of the U.S. government credit rating raised concerns about a potential flight from U.S. assets, leading to a stronger yen.
Yen Strengthens as Risk Sentiment Sours
Key Takeaways: *Moody’s downgrade of the U.S. credit rating stoked demand for safe-haven Yen. *The relationship between the U.S. and China deteriorated after the trade talks last week, pushing the safe-haven Yen to trade higher. Fundamental Analysis The Japanese Yen has advanced against its major peers in recent sessions, buoyed by a flight to safety as market sentiment turned cautious at the start of the week. Investors sought refuge in safe-ha…
The Nikkei 225 stock average continued to fall on the Tokyo stock market on the 19th, the start of the week. Following the downgrade of the US credit rating, the view that the foreign exchange market would become unstable spread, and risk-averse sell orders became dominant. The closing price was 37,498 yen, down 255.09 yen from the previous week's close.
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