Japan is studying whether any additional steps is needed to calm the turbulent stock market amid global financial crisis, Finance Minister Shoichi Nakagawa told a press conference Friday.
"We agreed in Washington to make our policies consistent. Japanneeds to think immediately about what it can do and implement policies" to stabilize stock markets, the minister said.
Leaders of the world's major economies pledged last Saturday in Washington that they will work together and take all possible steps to fight the financial crisis around the globe.
Nakagawa said Japanese government will be in close contact with governments overseas and the Bank of Japan to examine possible measures to regain stability in domestic stock markets.
He said increased volatility, or more than 5 percent movements in stock prices, which has been seen almost daily in markets around the world, "greatly affects" the world economy.
Japan announced the first set of market stabilization measures late October, which included tighter regulations on short selling and the purchase of shares held by banks by a public institution.
Tokyo stocks continue falling streak Friday morning, after the Nikkei plunged nearly 7 percent to below 8,000 line on Thursday.
Source:Xinhua
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