Japanese stocks opened lower today, ending two days of gains, according to Jinshi. Investors are assessing the risk of further interest rate hikes in Japan this year and are keeping a close eye on key U.S. inflation data to be released later today. The Bank of Japan may consider raising its inflation forecasts at a policy meeting later this month after unexpectedly strong results in annual wage negotiations, according to people familiar with the matter. "Japanese stocks are likely to fluctuate in a narrow range before the release of U.S. CPI data, but there will be some downward pressure," said Hiroshi Namioka, chief strategist at T&D Asset Management. Kazuo Ueda's comments on monetary policy may also put pressure on the market."
