Japan big manufacturers' mood unchanged in Q2, shows firms' cautious stance

Bank of Japan's tankan business sentiment survey showed on Friday that confidence at big Japanese manufacturers remained unchanged in Q2. The sentiment among major manufacturers remained stuck at its lowest levels since Abe kicked off his massive stimulus programme to boost growth.

Data showed the headline index for big manufacturers' sentiment stood at plus 6 in June, unchanged from the previous survey in March. The reading compared with the median estimate of plus 4 in a Reuters poll of economists, which would have matched the level of the June 2013 survey.

Poor reading will heap pressure on policymakers to unveil more stimulus. Deputy Chief Cabinet Secretary Koichi Hagiuda told a news conference that the government would take appropriate steps as needed while it closely monitors the uncertainty stemming from Britain's vote to leave the European Union.