Weak yen boosts tourist wallets in Japan [Yahoo! Finance]
Sumitomo Mitsui Financial Group Inc Unsponsored American Depositary Shares (Japan) (SMFG)
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Source: Yahoo! Finance
"I bought three pairs of shoes, which is something I would never normally do," French tourist Katia Lelievre, 36, said with a laugh in the bustling Asakusa area of Tokyo famous for its Buddhist temple and souvenir shops. The brands available in Japan are the same as in Europe -- Converse, Nike and Adidas -- but because of the exchange rate "it was really worth it" to buy, she told AFP. "The food is really cheap. (I spent a lot) especially on food. I tried everything I wanted," Dominique Stabile, 31, visiting from Italy, told AFP. "I had a budget set and I didn't exceed it, so I'm happy." Local businesses are also benefitting. "A lot of people do the math and when they see the equivalent in their country's currency they say: 'Wow, I'm going to buy that too'," said Saori Iida, who works in a shop selling traditional second-hand Japanese clothes. "Yesterday, we had someone who bought 15 kimonos," she said. "Thanks to the weak yen, foreign customers are buying a lot of hand
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- Analysis-Japan faces a tough tug-of-war with yen bears [Yahoo! Finance]Yahoo! Finance
- Japan faces a tough tug-of-war with yen bears [Reuters]Reuters
- JGB yields rise as liquidity-enhancing auction suggests weak demand [Yahoo! Finance]Yahoo! Finance
SMFG
Sec Filings
- 5/15/24 - Form 6-K
- 5/15/24 - Form 6-K
- 5/15/24 - Form 6-K
- SMFG's page on the SEC website