Japanese Bank Stocks Bought Ahead of Potential BoJ Rate Hike (MTU)

High ranking officials in the Japanese government are still at odds with what type of policy they'd like to see the Bank of Japan pursue from this week's rate decision meeting (14th). The market however received a clear signal from Mizuho Bank, which increased the interest rate on its prime lending rate and raised interest rates on short-term deposits. Ordinary shares of Mizuho Financial Group (Tokyo: 8411) gained 3.21% while Mitsubishi UFJ Financial Group (MTU) (Tokyo: 8306) jumped 5.16%.

Related:

17 Years Later, Japan’s Banking Sector Roars Back

Mitsubishi UFJ Financial Group (MTU) 1-year chart:

Source: Japanese Bank Stocks Bought Ahead of Potential BoJ Rate Hike (MTU)