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

Central bank responds to plunge in financial shares in Tokyo

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

TAKAYUKI MAEDA, Nikkei staff writer

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.

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