TOKYO, Jan. 24 (Xinhua) — Japan’s key stock index snapped its four-day successful streak on Friday after the Bank of Japan (BOJ) determined to boost its coverage rate of interest to 0.5 %.
The benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, closed at 39,931.98, down 26.89 factors, or 0.07 % from the day gone by.
Following the speed hike, home bond markets noticed long-term rates of interest rise, rising issues about stock overvaluation. Selling stress intensified, notably on main shares like ComfortableBank Group and Sony Group, which had been gaining in prior classes.
In its financial report, the BOJ raised its inflation forecast by fiscal 2026 in comparison with its October 2024 projections, resulting in market hypothesis a few quicker tempo of fee hikes.
The broader TOPIX index additionally declined, closing 0.70 factors, or 0.03 %, decrease at 2,751.04.
On the Tokyo Stock Exchange Prime Market, declining shares numbered 516, whereas 1,044 superior, and 81 remained unchanged.