The government may work out fresh measures to bolster Tokyo stock prices that have been plunging in step with New York markets, Finance Minister Kaoru Yosano hinted Tuesday.
"The fallout of falling stock prices is greater than we expected. We are witnessing many negative wealth effects with impaired assets held by banks and insurance firms," Yosano said, describing continued declines in stocks as "not desirable at all."
Yosano said he would closely monitor the Tokyo Stock Exchange on Tuesday after New York stocks tumbled Monday to their lowest level in 11 years and nine months, before deciding how the ruling parties and government should respond.