Sumitomo Mitsui Financial Group shares were recently 4.2% higher, Dai-ichi Life Holdings shares were up 4.3% and Resona Holdings shares were 5.3% higher. Kazuo Ueda said in an interview that if he is convinced that there has been a sustainable increase in wages and consumer prices, ending negative rates would be on the table. The 10-year Japanese government bond yield was recently up 5 basis points at 0.695%, its highest level since January 2014. Higher bond yields mean that banks and insurers can charge higher interest rates on commercial loans and earn better yields from bonds and other investments. Write to Kosaku Narioka at kosaku.narioka@wsj.com(END) Dow Jones NewswiresSeptember 10, 2023 21:36 ET (01:36 GMT)Copyright (c) 2023 Dow Jones & Company, Inc.

Source: Wall Street Journal September 11, 2023 01:45 UTC