Market Updates
Japan's Bond Yields Hovered Near 3-Decade Highs and Yen Traded at 1-Year Low
Akira Ito
23 Dec, 2025
Tokyo
Japan's stock market indexes advanced for the third consecutive session in the early morning but hovered near the flatline, and bond yields pulled back.
The Nikkei 225 Stock Average and the broader Topix struggled to hold onto morning gains in the final hours of the trading session.
The yield on 10-year Japanese government bonds edged lower for the second consecutive session after reaching a high of 2.1%.
Investors prepared for higher yields after the Bank of Japan lifted its benchmark rate by 25 basis points to 0.75%, a three-decade high.
The bond yields pushed higher as the Prime Minister Sanae Takaichi's administration prepares to increase government spending in the next fiscal year starting in April.
Japan's government spending in the upcoming fiscal year is likely to exceed last year's budget of 122 trillion yen, or $780 billion, and bond offerings are likely to surpass 28.6 trillion yen, or $184 billion.
The yen hovered near 156.04 against the U.S. dollar despite the Bank of Japan revising its benchmark rates higher last Friday.
Japan Indexes and Stocks
The Nikkei 225 Stock Average decreased 0.1% to 50,304.99, and the broader Topix inched higher 0.2% to 3,414.16.
Softbank Group decreased 0.7% to ¥17,685. 0, Tokyo Electron fell 0.5% to ¥33,000. 0. Advantest Corp. declined 1.9% to ¥19,680.0.
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