Japanese Shares Fall as Global Yields Rebound
Japan’s Nikkei 225 fell 0.7% below 66,000 and the Topix dropped 0.25% to around 4,050 as global bond yields rebounded and inflation data kept Bank of Japan hike expectations in focus.
25% to around 4,050 on Friday, giving back gains from the previous session as global bond yields rebounded amid concerns that US efforts to curb borrowing costs through debt buybacks may provide only a temporary solution. 7%, erasing its losses from earlier in the week, while Japan’s benchmark 10-year yield ended a two-day decline. Meanwhile, data showed Japan’s inflation rate accelerated for the second consecutive month, strengthening the case for a Bank of Japan interest rate hike in the near term. BOJ Governor Kazuo Ueda previously indicated that authorities could begin normalizing policy at a faster pace.
3%). The Nikkei and Topix indexes were on track to lose more than 4% and 3% for the week, respectively.