Japan’s Minister warns investors about surging yen
: Japanese Finance Minister Taro Aso sent a warning to investors Friday about the surging yen, saying the government will "act appropriately" in the currency markets if deemed necessary. "We have seen quite rough movements in the exchange rate recently," Aso said at a regular news conference following a meeting of government ministers. "We will continue to watch the foreign- exchange market with a sense of tension, and we will act appropriately if that becomes necessary." The comments came as Japanese stocks fell sharply again in early trading. The Nikkei Stock Average was down more than 5% at the lunch break after falls Tuesday and Wednesday. Tokyo markets were closed Thursday for a holiday. The yen has surged against the U.S. dollar since the Bank of Japan introduced negative interest rates on Jan. 29 for the first time. Initially, the move pushed the dollar above ¥120, but in Tokyo trading Friday, one dollar bought only about ¥112. Stock prices have been falling in tandem with the yen's rise. The two are linked because a higher yen tends to hit the profits of Japanese exporters and affects the broader economy, pushing down share prices. Etsuro Honda, a close adviser to Prime Minister Shinzo Abe, said Friday that the BOJ may call an emergency meeting to undertake additional monetary easing if the financial markets remain turbulent.