Tokyo stocks fall on U.S. rate hike speculation, yield hits 9-yr high
Tokyo stocks extended their losses Thursday, weighed down by speculation of prolonged U.S. monetary tightening, while the 10-year Japanese government yield hit its highest level in over nine years.
The Bank of Japan said it will hold a bond-buying operation after the yield on 10-year Japanese government bonds rose to 0.655 percent, its highest level since January 2014. The yield has been climbing since the BOJ decided last week to allow it to rise above a 0.5 percent cap toward 1.0 percent.
The BOJ’s announcement led to selling of the yen, with the dollar briefly advancing to the upper 143 yen...