Bank of Japan Governor "Will Strive for Financial Market Stability"... Japanese Stock Market Turns Upward

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Jeong Hyunjin] Haruhiko Kuroda, Governor of the Bank of Japan, stated on the 2nd that he will strive to secure stability in the financial markets amid the continued sharp decline in stock prices due to the impact of the novel coronavirus infection (COVID-19).

According to the Nihon Keizai Shimbun and others, Governor Kuroda pointed out in a special statement that "Recently, unstable movements have continued as uncertainty about the future economy has increased due to the spread of COVID-19 infections in domestic and international financial and capital markets."

He added, "The Bank of Japan will closely monitor future trends and make efforts to ensure smooth funding supply and financial market stability through appropriate financial market adjustments and asset purchases."

The reason Governor Kuroda issued this special statement is that the Japanese stock market has continued to open lower for six consecutive trading days due to the spread of COVID-19. On this day, the Nikkei 225 index opened at 20,849.79, down 1.39% (293.17 points) from the previous trading day at the Tokyo Stock Exchange. The TOPIX index started the session at 1,486.96, down 1.45% (21.91 points).

After the statement was released, the decline narrowed, and as of 10:38 a.m., it was trading at 21,224.56, up 0.39% from the previous trading day, marking a shift to an upward trend.

This content was produced with the assistance of AI translation services.