The Nikkei Stock Average Volatility Index (Nikkei VI) fell sharply by 7.08 points from the previous day to 25.80. During trading, Nikkei 225 futures did not trend in one direction and ended lower again in the afternoon.
The Nikkei VI fell sharply to 25.80, down 7.08 points or 21.53% from the previous day. The high was 33.49 and the low was 25.80.
Against the backdrop of gains in U.S. stocks, Nikkei 225 futures were firm after trading began, but turned lower around mid-morning as the KOSPI in South Korea turned down. Nikkei 225 futures subsequently regained strength, partly because Dow futures remained firm in after-hours trading.
The overall market direction remained unclear, and the Nikkei VI moved around the previous day's level during trading hours before falling sharply toward the end of the session.
The Nikkei VI is an indicator of the expected magnitude of fluctuations in the Nikkei Stock Average over the coming month. It tends to rise sharply during a steep market decline. The article includes an explanation of the indicator.