Concerned about US-China conflict Temporary stock price drop and yen appreciation against the dollar August 6 at 17:15
On the 6th, the Nikkei Stock Average dropped sharply by more than 600 yen due to concerns that the conflict between the United States and China over trade and currency would become more intense. In the afternoon, the price drop decreased, but the price movement continued to be rough. Even in the foreign exchange market, the yen, which is considered relatively safe, was bought, and the yen was appreciating temporarily until the middle of 105 yen, 1 dollar.
Tokyo Stock Market on the 6th, President Trump expressed dissatisfaction that the Chinese currency and yuan fell to the dollar level for the first time in 11 years, and the United States recognized China as a “exchange manipulation country” , The concern that the conflict between the two countries will intensify has strengthened, and the whole country has become cheaper.
As a result, the Nikkei 225 stock price dropped in the morning by more than 600 yen, and yen that was considered relatively safe was bought in the foreign exchange market. Cheap progressed.
However, since China set the yuan rate, which is the basis for foreign exchange transactions, to be slightly higher than expected in the market, the alertness gradually eased, and the rate of decline in the Nikkei Stock Average declined in the afternoon In addition, the dollar was bought back rapidly.
After all, the closing price of the Nikkei Stock Average was 2,585.31 yen, 134.98 yen cheaper than the 5th. The price drops for 3 consecutive days.
The yen market is also traded at the dollar level of 106 yen in the evening.
A market official said, “There is no prospect that the conflict between the United States and China will be resolved.