Mitsui Fudosan rose for the 7th straight day against a backdrop of lower long-term interest rates. Real estate-related stocks were broadly firm, while the 10-year JGB yield fell to the 2.7% range.
Mitsui Fudosan rose for the 7th straight day. Views that the decline in long-term interest rates is a positive catalyst have been gaining traction.
The domestic 10-year JGB yield fell rapidly and is currently trading broadly in the 2.76% range. Real estate stocks attracted buying on expectations of lower borrowing costs.
Mitsubishi Estate, Sumitomo Realty & Development, Nomura Real Estate Holdings, Tokyu Land, and Kasumigaseki Capital also rose. Amid declines in AI and semiconductor stocks and a risk-off mood, funds were also reported to be flowing into government bonds.