The Nikkei Volatility Index (Nikkei VI) rose from the previous day. It traded amid heightened caution ahead of Nvidia's earnings from the 26th and the Jackson Hole speech on the 28th.
The Nikkei VI rose on the 25th, gaining +2.28, or 8.11%, from the previous day to 30.41. The high was 34.16 and the low was 30.41, while Nikkei 225 futures rebounded after opening lower.
Nvidia's earnings announcement scheduled for the 26th and the speech at the Jackson Hole meeting on the 28th became sources of market caution, spreading expectations of increased volatility.
Downside support held in Nikkei 225 futures after the initial selling subsided, and they turned higher again in the afternoon. Meanwhile, following the Nikkei VI's decline at the previous session's close, today's level traded well above the previous day's level.
The Nikkei VI is characterized by indicating the magnitude of expected fluctuations in the Nikkei Average over the coming month, tending to surge during sharp declines, and tending to revert to a certain range, generally around 20–30.