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BOJ buys over $500m in ETFs for second day after SVB failure

Central bank responds to plunge in financial shares in Tokyo

The Bank of Japan moved to buy ETFs as jitters over the stability of the banking system dragged down stocks.    © Reuters

TOKYO -- The Bank of Japan purchased 70.1 billion yen ($523 million) in exchange-traded funds on Tuesday as concern over the collapse of Silicon Valley Bank drove stock prices down here.

The BOJ had also bought 70.1 billion yen in ETFs on Monday. Tuesday's move marks the first time the central bank purchased ETFs for two consecutive days since March 2021.

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