Japanese bank stocks fall. The media reports that high market seedlings are concerned about further interest rate hikes.

According to local Japanese media reports, Japanese Prime Minister Sanae Takaichi expressed concerns about further rate hikes during a meeting last week with Bank of Japan Governor Haruhiko Kuroda, leading to a decline in Japanese bank stocks. SMBC Nikko Securities analyst Masahiko Sato wrote in a report, "This news is bearish for bank stocks as it dampens expectations for a rate hike to around 1.5% in April." This once again confirms the divergence between the market and Takaichi's position. If the rate hike ultimately stops in the 0.75% to 1.0% range, the current upward trend in bank stocks is likely to end. The Topix Bank Index fell by as much as 3.3%, becoming the main sector dragging down the Topix Index. Mitsubishi UFJ Financial Group fell by up to 2.7%, Sumitomo Mitsui Financial Group fell by 2.8%, and Mizuho Financial Group fell by 5.1%.