January 7, 2020 / 3:57 AM / 16 days ago

Japan minister says undesirable if market moves are not in line with fundamentals

FILE PHOTO: Japan's Economy Minister Yasutoshi Nishimura attends a news conference at Prime Minister Shinzo Abe's official residence in Tokyo, Japan September 11, 2019. REUTERS/Issei Kato

TOKYO (Reuters) - Rapid moves in financial markets that are not in line with fundamentals are undesirable, Japan’s Economy Minister Yasutoshi Nishimura said on Tuesday.

Global stocks fell sharply on Monday as the United States and Iran traded threats after a U.S. air strike killed a top Iranian commander.

“Sudden moves (in financial markets) that don’t reflect fundamentals or excessive speculative moves are undesirable,” Nishimura told reporters after a cabinet meeting.

“While I like to refrain from commenting on the financial market itself, I think moves today have calmed a little,” he said.

Reporting by Daniel Leussink; Editing by Clarence Fernandez

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