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Japan business sentiment plunges to 11-year low: BOJ Tankan

Big manufacturers see recovery as China and South Korea speed 5G rollout

Japan has suffered a big drop in tourist arrivals due to the coronavirus pandemic. (Photo by Ken Kobayashi)

TOKYO -- Business sentiment among Japan's large manufacturers has plunged to the lowest level in more than a decade, the Bank of Japan's latest Tankan quarterly survey showed on Wednesday, as the economy struggles to recover from the recession caused by the coronavirus pandemic.

The headline diffusion index of sentiment among large manufacturers fell to minus 34 in June from minus 8 in March, the lowest reading since June 2009. Economists had expected a reading of minus 31, according to a poll conducted by Nikkei group company QUICK.

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