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Bank of Japan Governor Haruhiko Kuroda declined to comment to legislators Thursday on whether the recent 6%-plus decline for the Nikkei 225 were the big falls the BOJ has mentioned to in recent months when discussing policy options.

Kuroda told lawmakers that he wouldn't comment on when and how the BOJ will buy ETFs, repeating only that the central bank would buy them when stock prices fall sharply. "I can say only that we buy ETFs in a prioritized manner," Kuroda said, adding that the BOJ has no plan to reduce the scale of its purchase of ETFs.

Despite this week's Nikkei decline, the BOJ didn't buy ETFs, increasing the stock sell-off and triggering market views that the BOJ has changed its stance of ETF buying.

The Nikkei 225 is down 6.29% over the previous 5 days, dropping to 27,468.

Japan's Nikkei 225 5-day chart

Source: Bloomberg