Japan's Nikkei falls as higher yields, inflation fears weigh
EWJ•Japan's Nikkei fell 0.86% to 64,360.16 and the broader Topix slipped 0.95% to 4,028.97 as rising bond yields and inflation concerns weighed on shares. SoftBank Group fell 6%, while Fast Retailing rose 0.65%.
1. Japanese shares decline
The Nikkei fell 0.86% to 64,360.16 by 0204 GMT on Tuesday, while the Topix slipped 0.95% to 4,028.97. Technology stocks dragged on the market as investors weighed rising bond yields and persistent inflation concerns.
2. Technology stocks weigh
SoftBank Group fell 6%, making it the Nikkei's biggest drag and worst performer by percentage. Fujikura fell 5.49% and Furukawa Electric lost 4.88%, while Advantest edged up 0.32%. Fast Retailing rose 0.65%, providing the biggest support for the Nikkei. A fund manager said rising yields, as markets expect central bank tightening to curb inflation, were weighing on investor sentiment.
