STORY: Tokyo stocks end lower over higher Japanese interest rates
SHOOTING TIME: recent footage
DATELINE: May 23, 2024
LENGTH: 00:01:13
LOCATION: Tokyo
CATEGORY: ECONOMY

SHOTLIST:
1. various of street views in Tokyo
2. various of Tokyo Stock Exchange

STORYLINE:

Tokyo stocks closed lower on Wednesday, weighed down by concern over higher borrowing costs after Japan's benchmark bond yield touched the 1 percent threshold for the first time in around 11 years.

Japan's benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended down 329.83 points, or 0.85 percent, from Tuesday at 38,617.10.

The broader Topix index, meanwhile, finished 22.36 points, or 0.81 percent, lower at 2,737.36.

The yield on Japan's benchmark 10-year government bond hit 1 percent on Wednesday for the first time since May 2013 amid speculation that the Bank of Japan is moving to normalize its monetary policy, sending stocks lower by fueling concern over higher borrowing costs, analysts said.

Market watchers here noted stocks fell throughout the day, as technology and real estate issues were sold on concerns about higher borrowing costs and housing loans as interest rates continued to rise.

Xinhua News Agency correspondents reporting from Tokyo.
(XHTV)