Mitsubishi UFJ Financial and other bank stocks fall broadly as rate hike expectations recede, profit-taking dominates
Mitsubishi UFJ Financial Group, Inc. <8306>, Sumitomo Mitsui Financial Group, Inc. <8316>, Mizuho Financial Group, Inc. <8411>, and other major banks traded lower, with bank stocks across the board - including regional banks - declining broadly.
The U.S. Personal Consumption Expenditures (PCE) price index for Aug, released on Sep 30, rose 3.4% year-on-year, falling short of the market consensus of 3.7%. This dampened expectations the Federal Reserve will proceed with additional rate hikes.
Additionally, the Bank of Japan's Sep Tankan survey, released on Oct 1, showed the business conditions diffusion index (DI) for large manufacturers came in at plus 24, also falling below market expectations. Furthermore, Summary of Opinions from the Monetary Policy Meeting held Sep 17-18, released alongside the Tankan, was interpreted by some market participants as showing the Bank of Japan is not as inclined toward rate hikes as feared.
With expectations for additional rate hikes in Japan and the U.S. receding, profit-taking dominated bank stocks, which had been on an upward trend.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
Related Articles
-
PHC Holdings surges for first time in three days after disclosing receipt of preliminary acquisition proposal from TOHO HOLDINGS
Thu Oct 1, 2026 10:29 am JST Catalyst -
Hong Kong Hang Seng Index ? market closed on the 1st
Thu Oct 1, 2026 10:36 am JST Market -
KYORITSU MAINTENANCE extends gains as August sales rise 5%, surpassing prior year for first time in two months
Thu Oct 1, 2026 10:40 am JST Catalyst -
Nissha shares plunge after company slashes FY2026 guidance to a loss
Thu Oct 1, 2026 10:35 am JST Catalyst -
MEC COMPANY shares rise after announcing additional investment in Kitakyushu plant to meet semiconductor package substrate demand
Thu Oct 1, 2026 10:17 am JST Catalyst -
Dollar rises to 157.90 yen range on BOJ Tankan, meeting summary
Thu Oct 1, 2026 10:17 am JST Currency -
BIKE O extends winning streak to four sessions after raising FY2026 earnings forecast on firm auction market
Thu Oct 1, 2026 10:10 am JST Catalyst -
Rengo trading at a discount with consolidated PBR below 0.8x
Thu Oct 1, 2026 10:00 am JST Catalyst -
COMPUTER ENGINEERING & CONSULTING rebounds after announcing full acquisition of SI firm Cipher and capital tie-up with AI Librarium
Thu Oct 1, 2026 9:57 am JST Catalyst -
Advancing and declining issues on the TSE Prime Market as of 10:00 a.m.
Thu Oct 1, 2026 10:04 am JST Market