Japanese stock markets fell Thursday, and officials from countries with strong economies in the world agreed to meet to discuss the impact of earthquakes, tsunamis and the nuclear crisis on a fragile economic recovery.
Investors pushed Tokyo's Nikkei index down 1.4 percent, but economic officials expressed concern that greater that the Japanese currency, yen, will achieve the highest exchange rate against the dollar since the Second World War, before it fell back. The yen rose significantly since natural disasters and the concern for radiation due to leakage at the Fukushima nuclear power plant.
Analysts said some foreign brokers perceive the yen as a safe investment during the turmoil in Japan. Yanglain said the currency's value rose while Japanese companies repatriate their money to help finance the rebuilding effort that will be needed in coming months. Higher yen value cause problems for the recovery of third-largest economy in the world, because it makes Japanese exports more expensive abroad.
Yoshihiko Noda Japanese Finance Minister said the financial leaders of seven industrial nations will meet by phone on Friday to discuss the disaster and whether their central banks would intervene to suppress the rising yen. G-7 countries are the United States, France, Britain, Germany, Canada, Italy and Japan.
Investors pushed Tokyo's Nikkei index down 1.4 percent, but economic officials expressed concern that greater that the Japanese currency, yen, will achieve the highest exchange rate against the dollar since the Second World War, before it fell back. The yen rose significantly since natural disasters and the concern for radiation due to leakage at the Fukushima nuclear power plant.
Analysts said some foreign brokers perceive the yen as a safe investment during the turmoil in Japan. Yanglain said the currency's value rose while Japanese companies repatriate their money to help finance the rebuilding effort that will be needed in coming months. Higher yen value cause problems for the recovery of third-largest economy in the world, because it makes Japanese exports more expensive abroad.
Yoshihiko Noda Japanese Finance Minister said the financial leaders of seven industrial nations will meet by phone on Friday to discuss the disaster and whether their central banks would intervene to suppress the rising yen. G-7 countries are the United States, France, Britain, Germany, Canada, Italy and Japan.
Meanwhile, Bank Indonesia Governor Darmin Nasution was predicted that Japan's disaster is only temporary and short-term impact on the economy of Indonesia.
Darmin acknowledge Japan as the main destination country of export and import. Including automotive parts and electronics. Japan is important for Indonesia's trade.
The earthquake followed by tsunami in Japan, consider Darmin, impacting negatively on the state of financial markets. But the predicted while considering Japan's economic fundamentals are very good.
In the field of investment, disasters do not always have a negative impact. For Darmin, the condition can actually reverse. That is, speed up the relocation of Japanese industries to other countries, including Indonesia.
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