(Bloomberg) — Asian stocks fell Monday, dragged lower by Japanese shares as mounting speculation the nation’s central bank will raise interest rates boosted the yen.
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The Topix index of Japanese equities slid 3%, the biggest drop since March last year. Chip stocks within the benchmark slumped in a move that echoed pressure on AI-related firms seen on Friday in the US, when Nvidia Corp. slipped 5.6%. Shares in Australia and South Korea also declined, sending a gauge of regional stocks down after three days of advances.
In Japan, economic growth expanded in the fourth quarter, supporting expectations that the Bank of Japan will raise interest rates for the first time since 2007 as soon as this month. Declines for Japanese shares partly reflected the stronger yen, which typically acts as a headwind for the country’s equities.
The yen extending last week’s 2%…
