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Speaking at a regular news conference on Monday, Japanese Chief Cabinet Secretary Yoshihide Suga said the situation in Hong Kong is deeply concerning, adding that the stability is important.

His comments come in response to China’s decision to impose a new security law on Hong Kong last month, which has triggered a fresh row between the US and China and kept investors on the edge.

Market reaction

The above comments have little to no impact on the Japanese yen, as USD/JPY continues to range around 107.70. The spot is divided between broad-based US dollar weakness and the risk-on rally in the Asian equities.