Japanese household financial assets surge 4.6% YoY by June-end

Japanese households’ financial assets hit a record high of 2,212 trillion yen ($15.4 trillion) by June-end, marking a 4.6 per cent rise from the previous year, as per the Bank of Japan (BOJ) on Thursday.

Cash and deposits accounted for roughly half of the total assets, rising 0.8 per cent to 1,127 trillion yen. However, the most significant growth came from stock holdings, which surged 15.6 per cent to a record 301 trillion yen.

The Nikkei Stock Average reached an all-time closing high of 42,224.02 on July 11, following an 18 per cent rally in the first half of the year.

Investment trusts also saw a substantial increase of 27.1 per cent to a record 128 trillion yen, driven by the revamped tax exemption program known as NISA.

Attribution: Xinhua

Subediting: M. S. Salama