On Thursday, Japanese shares faced renewed pressure as domestic chip stocks mirrored the decline seen on Wall Street overnight. Additionally, new details from the Bank of Japan (BOJ) suggested a hawkish stance and potential for further monetary tightening.
The Nikkei index was only slightly lower after its sharp drop on Monday and subsequent recovery, but it appeared vulnerable. This fragility was due in part to expectations of a resurgence in yen carry trades being undone following the central bank's release of minutes from its July meeting.
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