Japan's stock market: closed at a nearly four-week low, as weakened expectations for interest rate hikes by the Bank of Japan pressured bank stocks
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The Japanese stock market closed at a nearly four-week low on Wednesday, as bank stocks fell due to comments from Bank of Japan officials that lowered interest rate hike expectations. The Nikkei index dropped by 0.88%, and the Topix index fell by 1.07%. The bank index decreased by 3.19%, with Mitsubishi UFJ Financial and Sumitomo Mitsui Financial both declining by over 3%. Market expectations for interest rate hikes have weakened, and investors are focused on the upcoming U.S. non-farm payroll report
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