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Japan to take emergency measures to stabilize falling stock market

US, WASHINGTON (NEWS OBSERVATORY) — The Bank of Japan (Central Bank) is ready to take emergency financial measures in order to calm the situation on the stock market in connection with the spread of the new coronavirus.

This was stated to journalists by the head of the Central Bank Haruhiko Kuroda, who held an emergency meeting on Thursday with Prime Minister Shinzo Abe in his Tokyo residence.

“We discussed the situation in the markets,” Kuroda said live on national television. “If necessary, the Bank of Japan will take steps to stabilize the situation by financially saturating the markets.”

Key indicators of the Tokyo Stock Exchange on Thursday collapsed by almost 5% amid the situation with the spread of coronavirus in the world and statements by US President Donald Trump on measures to counter the epidemic. In particular, Japan’s main Nikkei index fell to its lowest level since April 2017.

The NHK Channel  notes that investors in Tokyo have expressed disappointment at Trump’s allegations of action against the spread of coronavirus. In their opinion, they were not sufficiently specific.

The Japanese government itself intends next week to announce new steps to support businesses and consumers who are experiencing growing difficulties amid the spread of coronavirus.

In Japan, more than 1.3 thousand cases of infection are now noted, 20 people have died.

The World Health Organization (WHO) on Wednesday announced that the current outbreak in the world of coronavirus disease has become a pandemic. She notified that the disease is currently present in 114 countries, more than 118 thousand people fell ill.

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Article is written and prepared by our foreign editors from different countries around the world – material edited and published by News Observatory staff in our US newsroom.