Regional bank stocks including The Chiba Bank rise against market trend as BOJ Governor Ueda discusses potential rate hike
Shares of The Chiba Bank, Ltd. <8331>, Yokohama Financial Group, Inc. <7186>, and Fukuoka Financial Group, Inc. <8354> traded firmly on Thursday. Regional bank stocks showed notable strength against the broader market decline, while megabanks also demonstrated downside resilience. Bank of Japan Governor Kazuo Ueda delivered a speech in Tokyo on Wednesday evening, stating that the central bank would need to thoroughly discuss whether to raise interest rates if upside risks to prices are judged to be rising compared to downside risks to the economy going forward, in order to achieve the price stability target sustainably and stably while preventing adverse effects on the economy and financial markets. With market participants already anticipating the possibility of the BOJ implementing a rate hike at the June 15-16 Monetary Policy Meeting, the governor's remarks reinforced market expectations. Buying interest in bank stocks strengthened on expectations that policy rate increases would lift market interest rates and further widen net interest margins. Resona Holdings, Inc. <8308> and SBI Shinsei Bank,Limited <8303> also traded firmly.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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