It's simply that we've had a very strong run in the past couple of weeks and you've got a natural correction from that. You've got some overseas investors beginning to take a little profit.

People tend to believe the Bank of Japan governor rather than ministers.

We've now got synchronized monetary policy everywhere in the world. It's a sign of confidence in the economic recovery.

We have had a big rally for six to eight weeks and I think it has gone a bit too far. People are scared the economy is getting a bit worse.

If the U.S. continues to correct over the next few days it could be nasty for Japan, but the market fundamentals are much better here.