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Japanese stock investors talk up benefits of shelving Olympics For any country, hosting the Olympics is a major deal, both politically and economically. Yet, in a world ravaged by the COVID-19 pandemic, going ahead with the Tokyo Games is starting to look like a dangerous gamble on both counts.
FILE PHOTO: The logo of Tokyo 2020 Olympic Games that have been postponed to 2021 due to the coronavirus disease (COVID-19) outbreak, is seen through signboards, at Tokyo Metropolitan Government Office building in Tokyo, Japan January 22, 2021. REUTERS/Issei Kato
25 May 2021 03:20PM
COVID-19: Japanese investors talk up benefits of halting Olympics
Reuters, TOKYO
For any country, hosting the Olympics is a major deal politically and economically. Yet, in a world ravaged by the COVID-19 pandemic, going ahead with the Tokyo Games is starting to look like a dangerous gamble on both counts.
Ominously, a growing number of investors in Japanese stocks now believe that canceling the Games is better for the market, intensifying pressure on Japanese Prime Minister Yoshihide Suga, who is already facing stiff public opposition to the global showcase event.
The potential political damage to Suga and resulting uncertainty from staging the Games ahead of an election that must be held by October is making investors nervous, several fund managers and traders said.
GLOBAL MARKETS-Stocks slip, crypto haemorrhage deepens amid inflation worries
Global stocks slipped and cryptocurrencies sank on Wednesday as a threat of unwanted inflation had investors shy away from assets seen vulnerable to any removal of monetary stimulus.
Also weighing on digital coins were new Chinese restrictions on financial institutions providing services related to cryptocurrency transactions.
European stocks are expected to drop, with both Euro Stoxx futures and Britain’s FTSE futures trading about 1% lower.
MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.3% though Hong Kong and South Korea are closed for holidays.
Mainland China’s CSI300 slipped 0.1% while Japan’s Nikkei lost 1.5%.
Global stocks slipped and cryptocurrencies sank on Wednesday as a threat of unwanted inflation had investors shy away from assets seen vulnerable to any removal of monetary stimulus.
Wednesday, 19 May 2021 02:19 PM MYT
Mainland China’s CSI300 slipped 0.1 per cent while Japan’s Nikkei lost 1.5 per cent. Reuters pic
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TOKYO, May 19 Global stocks slipped and cryptocurrencies sank today as a threat of unwanted inflation had investors shy away from assets seen vulnerable to any removal of monetary stimulus.
Also weighing on digital coins were new Chinese restrictions on financial institutions providing services related to cryptocurrency transactions.
European stocks are expected to drop, with both Euro Stoxx futures and Britain’s FTSE futures trading about 1 per cent lower.