Japan’s Nikkei inched higher on Friday, buoyed by gains concentrated in a small group of technology stocks. At the same time, a stronger yen helped government bond prices bounce back, adding support to broader sentiment in Japanese markets. The move highlights how narrow sector strength and FX swings are driving near-term performance.
Japanese government bond yields jumped sharply Thursday, with 10 year JGB yields hitting a 25 year high. Investors blamed President Trump’s comments about the continuing Iran conflict, expectations of a Bank of Japan rate hike, a weaker yen, and higher oil prices that raise inflation fears and drive demands for higher yields.
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