Japan’s Nikkei pulls back from a record high as markets price in a BOJ rate hike

Japan’s Nikkei 225 retreated after touching a record high as markets broadly expect the Bank of Japan (BOJ) to begin its first rate hike. The shift has raised concerns that valuation support for Japanese equities could weaken and that funds could move out of the market. The pullback comes at a key window ahead of a monetary-policy turn, with no decision announced yet but a hiking path already largely priced in.