Japan's lifts state of emergency completely; Tokyo stocks close higher on hopes for full economic restart

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TOKYO: Japanese Prime Minister Shinzo Abe on Monday (May 25) lifted a state of emergency in the Tokyo metropolitan area and Hokkaido as the spread of COVID-19 in these areas is now under control, thus entirely ending the emergency in all of the country's 47 prefectures.

Abe told reporters the state of emergency that has been in place since April in the capital of Tokyo and its three prefectural neighbours Chiba, Saitama, Kanagawa as well as the northernmost prefecture of Hokkaido, is ending ahead of schedule. The state of emergency was due to run until May 31. "I have decided to end the state of emergency across the nation," said Abe."In just over a month and a half, we almost brought situation under control.

The greater Tokyo area accounts for a significant percentage of Japan's overall population and hence consumption, so eased restrictions on business activities and people's movements amid a decline in coronavirus cases is a clear boon for japan's recession-hit economy, market analysts here said. "The greater Tokyo area has 30% of Japan's population and likely accounts for about half of its personal consumption, so opening it up will clearly help the economy.

 

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