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Japan business sentiment plunges to 7-year low, BOJ Tankan shows

Coronavirus hits economy reeling from sales tax increase and trade war

The Bank of Japan's quarterly Tankan survey of business sentiment fell to its lowest point since 2013, the central bank said April 1, although the drop was less severe than many analysts predicted.

TOKYO -- Sentiment among Japan's large manufacturers plunged in January-March, marking the fifth straight quarter of declines and the longest downturn since the collapse of Lehman Brothers in 2008, the Bank of Japan's latest Tankan survey showed on Wednesday.

The closely watched index of sentiment among large manufacturers fell to minus 8 from zero in the October-December period, the lowest reading since 2013. Economists had expected a reading of minus 10, according to a poll taken by Nikkei group company QUICK.

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