Japan Household Financial Assets Grow 7 Pct in 1st Quarter

Tokyo, June 25 (Jiji Press)--Financial assets held by households in Japan as of the end of March grew 7.1 pct from a year earlier to 2,386 trillion yen partly due to higher stock prices, the Bank of Japan said Thursday.

The figure was lower than the record high of 2,394 trillion yen marked at the end of December.

Of the total, stocks jumped 28.6 pct to a record high of 398 trillion yen, while investment trusts surged 25.7 pct to 165 trillion yen. Government bonds increased amid rising interest rates.

Insurance policies rose 2.9 pct to 424 trillion yen as a weaker yen pushed up the assessed value of foreign currency-denominated products. Cash and deposits edged up 0.6 pct to 1,126 trillion yen.

Household liabilities increased 3.0 pct to a record high of 414 trillion yen due in part to an increase in housing loans.

[Copyright The Jiji Press, Ltd.]