Japanese Stocks Fall as Fiscal Concerns Rise
The Nikkei 225 Index fell 1.11% to 52,991, while the Topix Index fell 0.84% to 3,626 in Tuesday's trading. This marked the fourth consecutive session of decline for the Japanese stock market, fueled by fiscal concerns that sent Japanese bond yields soaring to new highs.
Market pressure intensified after Prime Minister Sanae Takaichi proposed cutting the food sales tax to 0%. This policy raised concerns about fiscal sustainability, as the government has not yet explained how lost revenue will be covered. Takaichi also plans to dissolve parliament and hold a general election on February 8.
The technology sector led the selloff, with SoftBank Group falling 3.3%, Disco Corp 3.9%, Fujikura 2.4%, Advantest 3.1%, and Tokyo Electron 2.6%. This decline reflected investor concerns about fiscal risks and political uncertainty ahead of the general election. (az)
Source: Newsmaker.id
