The Nikkei Stock Average opened lower in Tokyo on September 8 at 65,843.69, down 556.15 points from the previous day, with the decline briefly exceeding 600 points. By 9:05 a.m., the index was down 463 points. The main trigger was a sharp yen appreciation to the 153 range against the dollar, its strongest level in roughly six months since February and about 2 yen firmer than around 3:30 p.m. the previous day. The move prompted selling in export-related shares, including automakers, amid concerns about weaker earnings prospects. After the Nikkei had gained nearly 2,200 points through the previous day, investors also took profits, while the 75-day moving average near 66,800 was viewed as resistance. The index had closed above its 25-day moving average the previous day, indicating underlying buying interest and a view that the short-term correction may have run its course. Trading remained range-bound after the open, with limited external direction following a U.S. market holiday and mixed major European markets. The yen and export-related stocks are expected to remain key near-term market indicators.