Tokyo Stocks End Lower on Concerns Over U.S. Yield Rises

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Tokyo stocks closed lower on Monday amid concerns over rising U.S. long-term interest rates.

Japan’s benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended down 97.74 points, or 0.31 percent, from Friday at 31,759.88.

The broader Topix index, meanwhile, finished 8.95 points, or 0.39 percent, lower at 2,314.44.

Tracking gains in U.S. long-term interest rates, the yield on the benchmark 10-year Japanese government bond hit its highest level in about a decade at 0.775 percent.

Despite gains in the morning session, the Nikkei index lost momentum in the afternoon, market watchers here noted, citing fears over the impact of higher U.S. interest rates emerged after the U.S. 10-year treasury yield rose during after-hours trading.

On the top-tier Prime Market, decliners were led by oil and coal product, air transportation and mining issues.

Issues that fell outpaced those that rose by 1,266 to 515, while 50 ended the day unchanged. 

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