Market pullback in Japan poses new challenge for Abe

05/30/2013 | Bloomberg

Several days of retrenchment in Japanese shares have knocked off nearly a third of the gains inspired by the government's stimulus and put a harsh focus on Prime Minister Shinzo Abe's upcoming plans for regulatory reform. "There have been overblown expectations for the BOJ's monetary policy -- sentiment is waning, and that's being reflected in stock-price moves. What the government can do to boost stock prices is steadily implement its growth strategy. There are no other remedies," said Hideo Kumano, executive chief economist at Dai-ichi Life Research Institute in Tokyo.

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