Japanese stocks are lower as the yen strengthened against the dollar overnight due to expectations for a Fed rate cut later Wednesday. Financial stocks are leading declines after U.S. Treasury yields dropped overnight.
Japan Post Bank is down 2.1% and Dai-ichi Life Holdings is 2.7% lower. USD/JPY is at 146.27, down from 146.87 as of Tuesday's Tokyo stock market close.
Investors are focusing on any developments related to the leadership election for the ruling Liberal Democratic Party of Japan. The Nikkei Stock Average is down 0.6% at 44618.33.
Source: Bloomberg
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