Japanese stocks fall sharply, dragged by weakness in tech and electronics stocks, on growing concerns about rising inflation and higher borrowing costs. SoftBank Group falls 7.8% following the selloff in U.S. stocks on Wednesday. NEC Corp. loses 14% after it projects a 55% drop for its fiscal-year net profit. Nikkei Stock Average drops 2.5% to 27448.01.
The 10-year Japanese government bond yield rises one basis point to 0.085%. Earnings remain in focus as the season winds down in coming days. USD/JPY is at 109.66, little changed from 109.70 as of Wednesday 5 p.m. Eastern Time.Autotrader | Boat Trader | Trader | RV Trader