Japanese stocks closed lower on Monday (December 1), led by the chip and real estate sectors, as expectations of an interest rate hike by the Bank of Japan (BOJ) grew stronger. Kioxia Holdings fell 5.6% and Mitsui Fudosan fell 3.7%, while the Nikkei 225 index plunged 1.9% to 49,303.28. The 10-year government bond yield rose 7.5 basis points to 1.875%, its highest level since June 2008, reflecting market pressure over the possibility of a rate hike.
BOJ Governor Kazuo Ueda confirmed that the central bank will discuss the possibility of a rate hike at its meeting later this month. The USD/JPY exchange rate fell to 155.60 from 156.18 late Friday, indicating a strengthening yen. Investors are now paying close attention to Prime Minister Takaichi's economic measures aimed at supporting the Japanese economy, while awaiting the Bank of Japan's next monetary policy decision. (az)
Source: Newsmaker.id
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