The Economic Times·2025-12-01 03:21Market Overview - The Nikkei fell 1.68% to 49,407.31, marking a weak start to the month after seven consecutive months of gains in November [1] - The broader Topix index decreased by 1.01% to 3,344.48 [1] - Japanese government bond (JGB) yields reached 17-year highs, contributing to market volatility [1] Currency and Interest Rates - The yen strengthened against the dollar, influenced by comments from Bank of Japan Governor Kazuo Ueda, which increased speculation about a potential interest rate hike this month [1] - Market reactions were noted as different from previous trends, with rising yields and currency movements impacting investor sentiment [1] Company Performance - Advantest, a chip-testing equipment maker, saw a decline of 4.37%, significantly impacting the Nikkei [3] - Fast Retailing, owner of the Uniqlo brand, experienced a loss of 1.58% [3] - Fujikura, an optic fibre cable manufacturer, dropped 8.58%, becoming the largest percentage loser on the Nikkei [4] - Mitsui Kinzoku, a producer of materials for data centres, fell by 7.15% [5] Banking Sector - The banking sector showed resilience, with Sumitomo Mitsui Financial Group gaining 2.75% and Mitsubishi UFJ Financial Group rising by 2.33%, making them the top percentage gainers on the Nikkei [5] - Mizuho Financial Group also increased by 1.55% [5] - The bank index rose by 1.96%, contrasting with the overall market trend [5] Industry Performance - All but two of the Tokyo Stock Exchange's 33 industry sub-indexes declined, with energy explorers falling 3.55%, marking the worst performance [5] - The bank index emerged as the best performer, reflecting positive sentiment towards potential interest rate hikes [5]