Nikkei Plunge Won’t Upset BOJ’s Plan

The biggest plunge in Japanese stock prices since a 2011 earthquake and tsunami was a temporary pullback that will not derail the government’s “Abenomics” policy of loose money and fiscal stimulus, officials said on Thursday.

“It’s a temporary adjustment after the rapid gains seen recently,” Yasutoshi Nishimura, senior vice-minister of the Cabinet Office, told Reuters.

He expressed hope the slide “will give a buying opportunity for investors who could not take part in the market so far”.

The benchmark Nikkei stock average plunged 7.3 percent, the biggest slide since the March 2011 natural disaster, which caused a nuclear disaster.


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