Press Conference by SUZUKI Shunichi, Minister of Finance and Minister of State for Financial Services

(Excerpt)

(Friday, August ２, 2024, 10:52 am to 11:06 am)

Q.

The Nikkei Stock Average has been declining sharply, such as temporarily showing a decline exceeding 2,000 yen.
As the background, worries over a recession in the United States are pointed out. What do you think of the present situation and what influence do you think will be exerted on the Japanese economy? 

A.

Stock prices are subject to influences from interest rates and exchange rates and are determined by the market depending on domestic and international economic conditions, corporate activities, and other various factors. Accordingly, it is difficult to generally specify factors for daily fluctuations and I will refrain from making any comments.
At any rate, I think that we need to keep an eye on market trends continuously with a sense of tension.

Q.

Currently, the stock market is plunging across the board. Does this have any impact on people's lives in Japan? What do you think?

A.

It is not necessarily appropriate to predict the future only based on the trends of the last few days.
If there is any trend that is expected to continue for a lengthy period, we must consider countermeasures in many ways, but I think what is important at present is to closely watch trends in the market.