Japan's PM concerned over impact of Brexit, calls for G-7 action

TOKYO, June 28 (KUNA) — Japanese Prime Minister Shinzo Abe on Tuesday warned of the potential impact of Britain’s vote to leave the European Union (EU) on Japan’s real economy.
“The Tokyo markets resumed stability yesterday, but concern over uncertainty and risks still remains,” Abe told an urgent meeting of the Council on Economic and Fiscal Policy he chaired.
“We will continue to pay careful attention to developments in the stock and foreign exchange markets. The impact of the British referendum on Japan’s real economy may appear medium to long term,” the premier stressed.
Abe also called for concerted action by the Group of Seven (G-7) countries for securing market stability. “The G-7 members should work together and continuously send out messages that we will exert utmost efforts to stabilize the markets.” G-7 groups Britain, Canada, France, Germany, Italy, Japan and the US.
Tokyo stocks continued to rise on Tuesday, with the benchmark Nikkei 225 Stock Average on the Tokyo Stock Exchange (TSE) edging up 13.93 points, or 0.09 percent, from Monday to 15,323.14. In the currency market, at 4:05 p.m. (0705 GMT), the US dollar traded at JPY 102.07-102.08 against JPY 101.96-102.06 in New York and 102.01-03 in Tokyo at 5 p.m. Monday. (end) mk.msa

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