Japan's Abe Vows Steps against Stock Price Plunges

Politics

Tokyo, March 10 (Jiji Press)--Japan will take steps against plunging stock prices caused by worries over the global spread of the new coronavirus, Prime Minister Shinzo Abe said Tuesday.

"We'll work closely with authorities of other countries and the Bank of Japan and take appropriate measures if necessary based on agreements among the Group of Seven and Group of 20 economies," Abe said.

"Some jittery moves have been seen on financial markets amid uncertainties over the course of the global economy," he said at a liaison meeting between the government and the ruling camp.

While forecasting developments, Japan will decide on and implement necessary measures without hesitation, putting he top priority on citizens' lives and health, he added.

On Tuesday morning, the 225-issue Nikkei stock average fell below 19,000 temporarily for the first time since December 2018. The key index turned around in the afternoon.

[Copyright The Jiji Press, Ltd.]

Jiji Press