The Nikkei 225 Index dropped 0.8% to fall below 39,800, while the broader Topix Index lost 0.7%, settling at 2,767 on Wednesday, reversing gains from the previous session as US Treasury yields surged. Japanese shares also mirrored a tech-driven selloff on Wall Street overnight, fueled by concerns over persistent inflation and reduced expectations of further interest rate cuts by the Federal Reserve. Investors in Japan are also looking ahead to local wage data this week, which could offer further insights into the Bank of Japan's monetary policy outlook. Notable losses were seen in index heavyweights such as IHI Corp (-2%), Mitsubishi Heavy Industries (-0.7%), SoftBank Group (-1.5%), Tokio Marine (-3.8%), and Fast Retailing (-1.5%).(Cay) Newsmaker23
Source: Trading Economi
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