Japanese Shares Slip as Bond Yields Surge
Japan’s Nikkei 225 Index fell 0.4% to below 69,000 on Tuesday as global bond yields rose, while the benchmark 10-year government bond yield climbed to around 2.95%, its highest level in three decades.
The Nikkei 225 Index fell 0.4% to below 69,000 on Tuesday, giving back some of the previous session’s gains as global bond yields surged amid persistent concerns over inflation and rising government spending.
Japan’s benchmark 10-year government bond yield climbed to around 2.95%, its highest level in three decades, as mounting fiscal concerns and growing expectations of an imminent Bank of Japan interest rate hike weighed on sentiment.
Notable declines came from technology and consumer stocks, including Tokyo Electron (-2.9%), Advantest (-1.7%), Lasertec (-1.6%), Fast Retailing (-1.3%) and Nintendo (-2.4%).
In corporate news, Nvidia agreed to invest as much as $105 billion to support SB Energy, a SoftBank Group subsidiary developing a major data center project in Ohio for OpenAI.