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Japanese equities slide as rate move and tech concerns unset markets
Japanese markets declined as rate action and technology valuation concerns weighed on investor sentiment.
Japanese stock indices declined sharply, with the Nikkei falling over 2.6% and TOPIX lower by more than 1%. Technology stocks faced selling pressure amid valuation concerns and uncertainty around future AI spending. The central bank raised short-term interest rates but did not provide guidance on the timing of further hikes, adding to investor caution.