Japan’s Nishimura: China coronavirus spread could hurt Japanese exports, output and corporate profits

Dhwani Mehta FXStreet

Japanese Economy Minister Nishimura warned on Tuesday that the Japanese corporate profits and factory production could likely take a hit from the China coronavirus outbreak.

Key Quotes:

There are concerns over the impact on the global economy from the spread of infection in China, transportation disruptions, cancellation of group tours from China and an extension in the Lunar Holiday.

If the situation takes longer to subside, we're concerned it could hurt Japanese exports, output and corporate profits via the impact on Chinese consumption and production.

On the above headlines, the Japanese yen remains unmoved, as USD/JPY keeps its bid tone intact around the 109 level amid the China coronavirus scare induced risk-aversion and broad US dollar strength.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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