Japanese Shares Drop for Second Session
The Nikkei 225 Index fell 1.42% to close at 69,042, while the broader Topix Index declined 1.51% to 4,091 on Thursday, with both benchmarks extending losses for a second consecutive session as oil prices surged amid renewed tensions between the US and Iran, heightening inflation concerns. The latest FOMC minutes also pointed to a hawkish stance among policymakers, keeping investors cautious about the possibility of further rate hikes. Domestically, Bank of Japan member Ayano Sato, who previously dissented from the central bank’s September rate hike, said this week that she favored a gradual approach to raising interest rates in multiple stages, reinforcing expectations that policymakers could tighten policy again. Technology and banking stocks led the decline, with sharp losses from Taiyo Yuden (-4.4%), SoftBank Group (-4.3%) and Mitsubishi UFJ (-3.3%).
51% to 4,091 on Thursday, with both benchmarks extending losses for a second consecutive session as oil prices surged amid renewed tensions between the US and Iran, heightening inflation concerns. The latest FOMC minutes also pointed to a hawkish stance among policymakers, keeping investors cautious about the possibility of further rate hikes. Domestically, Bank of Japan member Ayano Sato, who previously dissented from the central bank’s September rate hike, said this week that she favored a gradual approach to raising interest rates in multiple stages, reinforcing expectations that policymakers could tighten policy again. 3%).