Japan govt: slide in stocks won't hamper Abenomics

The sharp fall in Tokyo stock prices is unlikely to hamper Japanese Prime Minister Shinzo's economic policies and their positive effects on the economy, the government's top spokesman said on Thursday.

 

"Japan's economy is expected to gradually head for a recovery, and we hope to closely watch market developments," Chief Cabinet Secretary Yoshihide Suga said at a regular news conference.

 

The Nikkei share average plunged 7.3% on Thursday, after weak Chinese factory data rattled investors, prompting them to take profits from a recent rally buoyed by massive Bank of Japan stimulus measures.