0654 GMT - The Nikkei Stock Average closed 7.8% lower at 31136.58, its lowest level since October 2023. The percentage drop was the biggest since Aug. 5. Financial stocks led the declines as near-term prospects for further rate hikes by the Bank of Japan dimmed. Mitsubishi UFJ Financial Group fell 10%, while Dai-ichi Life Holdings dropped 13%. The 10-year Japanese government bond yield fell 5 bps to 1.110%. Investors were focused on any responses from the governments around the world to the U.S. tariffs. USD/JPY was at 145.12, compared with 146.97 late Friday in New York. (kosaku.narioka@wsj.com; @kosakunarioka)
(END) Dow Jones Newswires
April 07, 2025 02:54 ET (06:54 GMT)
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