Japan Bank Stocks Fall on BOJ Forecast

May 1 (Bloomberg) -- Japan's bank stocks fell after the Bank of Japan cut its economic growth forecast and made no mention of raising interest rates. Commodities-related companies rose after oil and metals prices rose.

Mizuho Financial Group Inc., Japan's third-biggest publicly traded bank by value, lost 1.5 percent. Mitsubishi Corp., Japan's biggest trading company, rose 1.8 percent.

The Nikkei 225 Stock Average declined 13.56, or 0.1 percent, to 13,836.43 as of 9:18 a.m. The broader Topix index fell 2.56, or 0.2 percent, to 1,356.09.

Source: Bloomberg


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