Nikkei tumbles 1.70% as stronger yen triggers profit-taking

  • Nikkei Stock Average fell as investors sold after its recent winning streak.
  • 1,130.51 yen, or 1.70%, was erased, leaving the index at 65,269.33.
  • The yen strengthened to around 153.70 per dollar, pressuring exporters and semiconductor stocks.

Japan's Nikkei Stock Average fell 1,130.51 yen, or 1.70%, to 65,269.33 on September 8 as investors took profits after a recent rally and the yen strengthened against the dollar. The TOPIX dropped 75.47 points to 4,050.33. Selling was broad, with export-oriented companies particularly affected by the currency move, while some AI-related stocks briefly lifted the Nikkei into positive territory before fading. The market had gained nearly 2,200 yen over its recent consecutive advances, but failed to decisively clear the 75-Day Moving Average near 66,800, reinforcing technical resistance. Trading on the Prime Market saw 75% of stocks decline, with volume of 2.1001 billion shares and turnover of ¥8.4774 trillion, or approximately $55.1 billion. Investors will focus on currency movements and the reopening of U.S. markets as the market enters a correction phase.

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