Nikkei Falls 2.3% as 10-Year JGB Yield Hits Decade High
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Updated Oct. 4, 2023 3:03 am ET
0626 GMT — Japanese stocks ended broadly lower, hit by growing concerns about higher borrowing costs, as the 10-year Japanese government bond yield reached a new decade high. Sumitomo Realty & Development dropped 6.4%, Nissan Motor lost 6.3% and Panasonic Holdings shed 5.8%. The Nikkei Stock Average fell 2.3% to 30526.88. The 10-year Japanese government bond yield rose 4.5 basis points to 0.805%, the highest level since August 2013. Economic data and Treasury yields are in focus, along with the U.S. government spending debate. USD/JPY was at 149.22, compared with 149.02 as of Tuesday 5 p.m. ET. ([email protected]; @kosakunarioka)
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