The Nikkei 225 Index dropped 1.3% to around 38,700, while the broader Topix Index declined 0.6% to 2,698 on Tuesday, resuming last week’s downward trend as Japanese markets reopened following a holiday-extended weekend. The pullback was in line with global market declines, as stronger-than-expected US jobs data reduced speculation of further interest rate cuts by the Federal Reserve. Investors also adopted a cautious stance amid growing speculation that the Bank of Japan may raise its inflation forecasts at this month’s policy meeting, potentially signaling further rate hikes. Technology stocks led the downturn, with significant losses from Advantest (-6.2%), Disco (-3.6%), and Tokyo Electron (-2.4%). Other index heavyweights also faced losses, including Mitsubishi UFJ (-1.7%) and Fast Retailing (-1.3%).
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