Asian stock markets are said to be in the forefront of losing its good trading standing, as it recently recorded lows on its stocks trading. Due to this, Wall Street is again sinking.
Financial ministers and central bank presidents of the world's seven leading industrialized nations, meeting in Tokyo, said yen volatility and the markets had their full attention.
"We are concerned about the recent excessive volatility in the exchange rate of the yen and its possible adverse implications for economic and financial stability," the Group of Seven said Monday in a statement.
The finance ministers and bankers said they would "cooperate where appropriate" to help stabilize world markets. They said they were monitoring the situation closely.
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