Japanese Shares Sink as Bond Yields Surge
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Japan’s Nikkei 225 dropped 1.6% to around 59,600, and the TOPIX fell 1.3% to 3,800, both hitting multi-week lows due to rising global bond yields amid inflation concerns. The 10-year government bond yield surged to 2.8%, the highest since September 1996, prompting expectations for a potential interest rate hike from the Bank of Japan. Technology and AI shares, including Kioxia and SoftBank Group, experienced significant losses.
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