Japanese stocks opened lower today, ending a two-day winning streak as investors assess the risk of further interest rate hikes in Japan this year and keep a close eye on key U.S. inflation data due later today. According to people familiar with the matter, the Bank of Japan may consider raising inflation forecasts at its policy meeting later this month, following an unexpectedly strong outcome in annual wage talks. Hiroshi Namioka, chief strategist at T&D Asset Management, said: "Ahead of the US CPI data, Japanese equities are likely to trade in a narrow range, but there will be some downward pressure. Kazuo Ueda's comments on monetary policy may also put pressure on the market. ”