Takenaka: stock falls 'short-term'
 |
Story Tools
|
TOKYO, Japan (Reuters) -- Japan's Economics and Financial Services Minister Heizo Takenaka said Tuesday that the government is not taking measures to boost stock prices.
"The real economy is not in that bad a state," he told reporters after a cabinet meeting.
Takenaka said current stock falls are short term and reflect geopolitical risks around the world.
Japan's Nikkei stock average fell below 8000 points on Monday for the first time since March 1983, before closing at 8042.26.
It tumbled to fresh 20-year lows at the opening on Tuesday, going as low as 7928. But it recovered later in the morning to be above 8050 points at the break.
Speculation that war in Iraq is imminent plus selling by banks and insurers continued to hit blue-chip shares such as Sony Corp.
Copyright 2003
Reuters. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
