Financials lead Japanese shares lower as expectations of early rate hike fade
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Japanese shares declined on Wednesday, primarily driven by falling financial stocks, as comments from a Bank of Japan official dampened expectations for an early interest rate hike. The Nikkei index fell 0.2% to 42,220.77, while the Topix dropped 0.4% to 3,069.25. BOJ Deputy Governor Ryozo Himino indicated that while interest rates should rise, global economic uncertainty remains high, leading to a cautious approach. The bank index was the worst performer, with major financial groups like Mitsubishi UFJ and Sumitomo Mitsui seeing significant losses.
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