Japan's Topix Index Gains Led by Banking and Service Sectors; Rate Hike Expectations Boost Banks

Deep News08-12



Japan's Topix Index rose, driven by gains in the banking and services sectors. The Topix edged up 0.3% to 4,112.59, while the Nikkei slipped 0.1% to 66,886.70.



Growing expectations of an earlier-than-expected interest rate hike by the Bank of Japan have boosted the banking sector. Mitsubishi UFJ Financial Group was the largest contributor to the Topix's rise, climbing 2.3%.



Among the index's 1,637 components, 942 stocks advanced, 608 declined, and 87 remained unchanged.

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