Japan Shares Slide for Seventh Day on Negative-Rate Speculation
- Banks pace decline on concern over delayed earnings recovery
- Lawson jumps as Mitsubishi Corp. considers increasing stake
BOJ Watch: What Are Markets Expecting?
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Shares in Tokyo dropped, with the Topix index posting its longest losing streak since 2014, on bets the Bank of Japan will make deeper cuts to negative interest rates.
The Topix fell for a seventh day, with banks and automakers leading the decline at the close of trading in Tokyo Thursday. After a two-month rally, investors turned bearish on Japanese shares last week amid a global selloff as the market weighed upcoming monetary policy decisions from the BOJ and the Federal Reserve. A gauge tracking lenders has fallen 9.5 percent from a peak on Sept. 2 amid concerns a deeper dive into negative rates by the BOJ will stymie hopes for an earnings recovery.