Japan Nikkei falls 0.86% as inflation and yields worry investors
Japan's Nikkei index dropped 0.86% on Tuesday, landing at 64,360.16.
Rising bond yields and worries about inflation had investors selling off tech shares, with the broader Topix index also down nearly 1%.
As Koji Toda, senior fund manager at Resona Asset Management, put it, concerns over possible central bank tightening are making people cautious in Japan's markets.
SoftBank shares fall 6% in Tokyo
SoftBank Group took a big hit, dropping 6% and pulling the Nikkei lower. Fiber-optic makers Fujikura and Furukawa Electric also slid by over 4%.
On a brighter note, chip-equipment maker Advantest bounced back to finish slightly up, while Fast Retailing managed a small gain.
Still, with around three-quarters of Tokyo's prime stocks losing ground, even as US tech stocks rose overnight, it's clear that inflation fears are weighing heavily on Japanese investors right now.