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Most Asia stocks up but Tokyo hit by Trump worries

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Doesn't matter...it was only Tokyo stock that shot up dramatically after Trump victory...so? just returning to normal position. call it by any name...market adjustment, profit taking, trump worries.

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Glad I was able to buy yen when it was weak, and it looks to gain strength again. I guess the Trump effect has worn off, with all of his warnings to Japanese auto makers, and now Big Pharma, maybe people won't be cheering so loudly for him!

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"the Inauguration State of the Union..... offers the ideal platform to present his plans for a massive infrastructure spending program.”

Keeping my fingers crossed.

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“Dealers will now turn to the Inauguration State of the Union (next Friday), which in my view offers the ideal platform to present his plans for a massive infrastructure spending program.”

Tax cuts and regulatory reforms are the key. These are important and must be prioritized.

The disappointment saw traders shift out of the dollar towards the yen

I think the yen is just getting some reprieve after being absolutely smashed in the wake of the election result. It's still way down from where it was before Trump got elected, exactly as some14some, says.

MarkX,

I guess the Trump effect has worn off

I don't think so, not yet. In the short term I think the yen could get a bit stronger, but it's unlikely in my view to go below 100-105 say, because lots of people want to dump their yen for dollars, and temporary bouts of yen strength provide good opportunities to do so.

If the new administration fails to achieve much of importance quickly, then I expect there to be disappointment and one then will be able to say the Trump effect has worn off, but the new administration gets the benefit of the doubt for now.

JeffLee,

Keeping my fingers crossed.

I'll bet you are! And I wish you luck in what you are hoping for. A bit of something for everyone wouldn't be my worst nightmare.

I can't see the new administration backing a huge public spending plan myself, but I do imagine they have some ideas about incentivizing the private sector to build out infrastructure. Incentives, yes, this I can believe they believe in. Should they come up with a big public spending plan, with no sign of tax cuts or regulatory reform (ala Abenomics) I'll be cutting my exposure to S&P500, in despair.

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