Japan govt spokesman: Stock market plunge is temporary adjustment

Japan govt spokesman: Stock market plunge is temporary adjustment

TOKYO - Japan's top government spokesman said on Thursday that Thursday's plunge by the Tokyo stock market was a temporary adjustment and that the Japanese economy is steadily picking up.

"Share prices appear to have been undergoing temporary adjustment over the past week," Chief Cabinet Secretary Yoshihide Suga told reporters.

"A rise in share prices over the past month has been extremely rapid ... In that regard, it would be unnatural if adjustment did not occur," Suga said.

The Nikkei share average dived to a five-week low on Thursday as the yen firmed further against the dollar.

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