23 October 2003, 13:15  MOF's Hayashi says Japan recovery still on track

TOKYO, Oct 23 - Vice Finance Minister Masakazu Hayashi said on Thursday that Japan's nascent economic recovery is still on track despite a plunge in share prices and a rise in the yen. "Moves towards a recovery in the real economy are continuing," he told reporters at a regular news conference. "We are watching share prices closely." The Tokyo stock market's main indices -- the Nikei average <.N225> and the broader TOPIX index <.TOPX> -- both fell five percent on Thursday, their biggest one-day percentage falls in over two years, after U.S. share prices fell and the strong yen hit exporters.//

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