Reported 2 days ago
Mitsubishi UFJ Financial Group Inc. shares rose to a record high following the Bank of Japan's recent rate hike, reflecting positive sentiment among Japanese banks about increasing lending income. MUFG's shares surged 2.5% to ¥1,969.5, the highest since its listing in 2001, as investors anticipate further rate increases next year. Other banks also benefitted, with Sumitomo Mitsui and Mizuho seeing gains. The shift in BOJ's monetary policy is expected to significantly enhance profitability for Japan's lenders after years of low borrowing costs.
Source: YAHOO