Japan’s Hayashi: Wage rises will likely spread

Japan’s Chief Cabinet Secretary Yoshimasa Hayashi said on Tuesday that “wage rises will likely spread to part-timers, small businesses toward autumn with strong Shunto results and minimum pay hikes.”

Additional comments

No comment on day-to-day share moves.

Says important for govt to make a judgement calmly, when asked about volatile Tokyo stocks

Closely watching market moves with sense of urgency.

Will closely work with BOJ, conduct economic, fiscal policies thoroughly.

Won't comment on forex levels.

Important for currencies to move stably reflecting fundamentals.

Closely watching FX market moves.

Market reaction

At press time, USD/JPY continues to hold the renewed upside near 145.30, adding 0.85% on the day.