Bank of Japan to begin share buying plan next week

JAPAN - Japan's shock move to purchase equities in a bid to solve the banks bad loans crisis will begin next week. Last week Japan's FSA brought further concern suggesting that the problem could have been underestimated by as much as Y13,000bn.

Japan's central bank said Monday it will begin buying shares held by the country's commercial banks starting at the end of next week using a two-trillion-yen ($16.5-billion US) fund to stabilize the financial system, Associated Press reported.

The Bank

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