Japan is ready to “take appropriate measures,” if necessary, to quell volatility in the financial markets, a top government spokesman said Tuesday.
Chief Cabinet Secretary Yoshihide Suga told reporters that Japan’s economy, the world’s third-largest, is still “on track for a moderate recovery,” despite the roller-coaster market gyrations of recent weeks.
But Suga acknowledged that recent swings in share prices and foreign exchange markets have taken a toll.
“What is important is to be alert to developments at home and abroad,” said Suga, who added that Japan was prepared to work with other major industrial nations to handle the global market declines.
“If necessary, we are going to take appropriate measures,” Suga said, without giving any details.
On Tuesday, Japan’s main share index, the Nikkei 225, sank 4 percent to 17,806.70 in a session that saw the benchmark swing between positive and negative territory. It fell 4.6 percent on Monday.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.