Japan Family Financial Assets Hit Record High in 2019
Tokyo, March 18 (Jiji Press)--Financial assets held by households in Japan at the end of 2019 grew 3.3 pct from a year before to 1,903 trillion yen, hitting a record high for the first time in two years on a quarterly basis, Bank of Japan data showed Wednesday.
The rise partly reflects a spike in share prices in Japan backed by an upswing of the U.S. equity market. In 2019, the key 225-issue Nikkei average on the Tokyo Stock Exchange gained 18.2 pct to close the year at 23,656.62.
But household assets are seen to have decreased since then as concerns over the spread of the new coronavirus led to the Nikkei dropping by about 30 pct.
The balance of cash and deposits, which account for a majority of the total household financial assets, increased 2.3 pct to 1,008 trillion yen at the end of last year. Shareholdings rose 13.5 pct to 211 trillion yen, and investment trust funds gained 10.9 pct to 74 trillion yen.
The BOJ data also showed that nonfinancial companies' financial assets grew 6.9 pct to 1,240 trillion yen, marking the highest level since the end of September 2018.
[Copyright The Jiji Press, Ltd.]