The Nikkei Average plunged to more than ¥1,130 below the previous day's level in Tokyo trading on 8 September. Yen appreciation against the dollar triggered selling across a broad range of stocks, particularly export-related names, while the TOPIX also fell sharply.
The Nikkei Stock Average closed at ¥65,269.33 on 8 September, down ¥1,130.51 from the previous day, extending its decline through the latter part of the session. In the foreign exchange market, the yen strengthened against the dollar, sending stocks broadly lower, particularly export-related names.
Some AI-related stocks were bought during the trading session and briefly moved into positive territory, but they gave up their gains toward the close. The TOPIX also fell 75.47 points to close at 4,050.33.
By sector, glass and ceramics products, transport equipment and electric appliances declined, while information and communications, oil and coal products, and mining rose. Trading volume was 2,100,010,000 shares, and trading value was ¥847.74 billion.
The market opened as gains were unwound against the backdrop of the previous day's closure of US markets. With the 75-day moving average viewed as resistance on the upside, the scope for short-term gains was limited. The strengthening yen weighed on earnings outlooks for exporters and supported the market's overall decline.