BOJ governor Haruhiko Kuroda spoke earlier in Tokyo
- Fluctuation in stocks partially attributable to global risks
- BOJ will thoroughly examine risks abroad
- Will continue to examine developments in markets
- Japan and global economy are robust enough to withstand shocks
- Need to continue with current easing policies
With the recent setback suffered by global equities, it's helping to push the yen higher and that's not going to help the BOJ's cause to combat deflationary pressures in the economy. The Nikkei dropped by 5% in thin trading yesterday and officially entered into a bear market as it closed by more than 20% from its peak this year.
Japanese stocks were more volatile in trading today but recovered strongly in the final hour of trading as the Nikkei closed 0.89% higher at 19,327.06. This comes after the index fell by more than 1% to its lowest levels since April 2017 an hour before the close.
