Japanese FinMin Aso: Continue to target balanced budget by FY 2025

Finance Minister Taro Aso, who said that the coronavirus outbreak in Japan was getting more contained in October while underscoring the importance of getting the economy back to the growth path has said the nation continues to target the year ending 2025 budget. 

Meanwhile, however, Tokyo has raised alert to the highest level amid rising concerns over the spread of the virus. 

Japan's capital recorded 298 coronavirus cases on Nov. 16, the Tokyo Metropolitan Government announced.

The new infections came after 180 cases were reported on Nov. 16 and 255 the day before.

In the first week of November, Tokyo averaged 191.3 new infections per day, rising to 296.4 in the second week. This is up from the average for October, which saw a total of 5,358 infections for an average of 172.8 per day. 

Asian equities were set for a sluggish open on Wednesday, tracking a lower Wall Street session as concerns over rising coronavirus cases and fresh lockdowns dampened the euphoria from vaccine trial breakthrough.

Japan's Nikkei 225 futures NKc1 fell 0.35% and is trading in the cash down over 1% and losing 285 points in the first hour of trade.