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Japan has lifted the state of emergency
Japan seems to be taking steps in the right direction.
As of today, the emergency state was lifted from all prefectures. The decision was approved earlier today after the country successfully managed to contain the spread of the virus. Two weeks ago, the containment measures began to relax for most of Japan.
Although the emergency state ended, the government will keep on monitoring the situation for every prefecture. Every three weeks, there will be an assessment of the cases, as the transitional period is in force. Still, people have to stay indoors and avoid large gatherings. Until the end of the month, it is recommended not to travel between the prefectures. Prime Minister Abe advises for wearing face masks, and to work from home if possible.
Tokyo, one of the prefectures which have been struck by the virus, will benefit from a three-stage plan of restriction relaxation. First, restaurants will be allowed to stay open until 10 PM, alongside libraries and museums. Second, at the end of the month, movie theaters and shops will be allowed to resume activity. Places, where the risk transmission is high, will remain close until further notice.
Though the virus seems to be under control, the same does not apply to the economy. The Japanese economy doesn't look too rosy, even though the government approved an open-ended stimulus program.
Now, the government considers another stimulus worth 100 trillion yen. From this, 60 trillion will be for expanding the loan programs that the state and private financial institutions offer to small businesses hit by the virus. Another 27 trillion is for capital injections. Alongside with the first stimulus, the overall amount exceeds 40% of the GDP. More about the matter is to be discussed Wednesday.
Japan225 closed higher today's trading session, gaining 1.73% - reaching a one month high.
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Sources: investing.com, english.kyodo.news.net