Bank of Japan's Kuroda calls for steps to develop Asia bond market

Bank of Japan Governor Haruhiko Kuroda poses for a picture before his speech at the University of Zurich in Zurich, Switzerland November 13, 2017. REUTERS/Arnd Wiegmann

TOKYO (Reuters) - Bank of Japan Governor Haruhiko Kuroda on Tuesday said there was a need to develop a vibrant bond-financing market in Asia to diversify sources of funding for companies in the region.

“Developing highly efficient and liquid local currency bond markets is essential,” Kuroda said in a speech at the Asia Securities Forum.

“With enhanced investment opportunities, abundant savings in the region could be recycled within the region” and meet huge needs for infrastructure funding, he said.

Reporting by Leika Kihara; Editing by Chang-Ran Kim