News On Japan

Japan’s Long-Term Interest Rates Hit 27-Year High

TOKYO - Japan’s long-term interest rates continued to climb on growing concerns over worsening public finances, with the yield on the benchmark 10-year Japanese government bond rising above 2.2%, marking its highest level in roughly 27 years.

In the bond market on Tuesday, the 10-year government bond yield, a key indicator of long-term interest rates, rose to as high as 2.25%, its highest level since February 1999.

Bond selling has accelerated as reports say both ruling and opposition parties are considering including a consumption tax cut on food items in their campaign pledges ahead of the House of Representatives election, with voting expected on March 8th, raising fears of further fiscal deterioration.

Prime Minister Sanae Takaichi is expected to announce plans to dissolve the lower house at a press conference starting at 6 p.m. on Tuesday, and some market participants have warned that interest rates could rise further depending on what she says.

Source: TBS

News On Japan
POPULAR NEWS

Prime Minister Sanae Takaichi has drawn criticism over a social media post describing five hours of sleep as a rare luxury, as the extended Diet session prepares to begin Upper House debate on a controversial bill to establish secondary capitals outside Tokyo.

Japan began applying a new numerical alcohol threshold for dangerous driving offenses on July 21, introducing a clearer standard for cases involving impaired driving that could lead to fatal accidents.

Breathtaking 4K footage filmed from a helicopter offers a sweeping aerial view of Mount Fuji and its majestic surrounding landscape.

A covert network of shuttle tankers is carrying crude through the increasingly dangerous Strait of Hormuz as renewed fighting between the United States and Iran disrupts shipping and raises concerns over how Japan will secure the oil it needs.

Russian Deputy Foreign Minister Andrey Rudenko has criticized moves by Japanese and Ukrainian companies to cooperate on drone technology, warning that such ties would be regarded by Moscow as a "clear hostile act."

MEDIA CHANNELS
         

MORE Business NEWS

The yen weakened beyond 163 to the dollar as fears of a further deterioration in the Middle East fueled safe-haven demand for the U.S. currency, pushing Japan's currency to its lowest level in about 39 and a half years.

Tokyo stocks rebounded sharply on July 21 as investors bought back semiconductor and artificial intelligence-related shares after last week’s steep selloff, while attention shifted to upcoming U.S. technology earnings and the government’s new economic policy roadmap.

Japanese cash equities were closed for Marine Day on July 20, leaving investors to assess whether Tokyo can stabilize after last week’s technology-led rout as oil prices rose above $90 a barrel, the yen remained near four-decade lows and global markets braced for another test of the artificial intelligence trade.

Apple has raised prices for iPhones sold in Japan, with the top-end iPhone 17 Pro Max now costing more than 210,000 yen, as the prolonged weakness of the yen increases the local cost of products priced and managed in US dollars.

A tanker carrying about 1 million barrels of Mexican crude oil arrived off Yokkaichi, Mie Prefecture, on the morning of July 17, marking Japan's first such delivery since the Strait of Hormuz was effectively closed.

Tokyo stocks plunged on July 17 as a global selloff in semiconductor and artificial intelligence-related shares pushed the Nikkei 225 into correction territory, while Middle East tensions, higher oil prices and persistent yen weakness added to pressure on investors.

Nissan Motor unveiled a fully redesigned Elgrand minivan on July 17, marking the model's first complete overhaul in 16 years, while introducing a new brand message as the automaker seeks to rebuild its business and revive sales.

Seven & i Holdings is considering investing several hundred billion yen in Zabka Group, Poland's largest convenience store operator, as the Japanese retailer seeks to expand its presence in Europe.