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Japanese household assets lowest in 3 years due to falling stock prices
(Xinhua)
Updated: 2008-12-16 11:07

TOKYO -- Japanese households' outstanding balance of financial assets dropped 5.2 percent from a year earlier in the third quarter to a three-year low, the Bank of Japan said Tuesday.

The figure in the July-September period dropped to 1,467.02 trillion yen, mainly due to declining stock prices amid the global financial crisis, the central bank said.

Japanese households have been withdrawing money from capital markets and shifting funds to relatively secure bank deposits to averse risk in the stocks, which dropped to 7,162.90 on October 27, marking its lowest close since October 1982.

According to bank figures, the outstanding balance marked a yearly fall for the fourth straight quarter and hit its lowest level since September 2005 when it stood at 1,461 trillion yen.