Tokyo stocks fell for the fifth consecutive day, with the Nikkei index dropping by over 2 percent. This was due to concerns about the US economy, as stronger-than-expected job openings data raised fears of further interest rate hikes by the Federal Reserve. The value of the US dollar also decreased from a one-year high against the yen after suspected yen-buying intervention by Japanese authorities. The broader stock market, including transportation equipment, iron and steel, and banking sectors, also experienced declines. Meanwhile, the yield on 10-year Japanese government bonds reached its highest level since August 2013, in line with rising long-term US interest rates. Export-related auto and technology shares saw losses amid worries about a slowdown in the world’s largest economy. Investors were hesitant to buy stocks ahead of the release of important US employment data, in order to gauge potential future interest rate hikes by the Fed. Overall, the market’s reaction to the upcoming data was uncertain, making it challenging for investors to make buying decisions.
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