Japan’s chip-equipment cycle runs on five public gauges: SEAJ monthly billings read as a three-month average year on year, global semiconductor sales, customer capex guidance, order backlogs, and inventory days. Here is the reading order, the confirmation rules that separate a real turn from noise, and how to cross-check with JPX short-sale and Japan Securities Finance margin data.
The Nikkei 225 closed at 70,683.98 (+1.05%) on Tuesday, its first close above 70,000 since early July, as semiconductor names and banks led and the yen slipped to 158. SoftBank Group fell 3.1% against the tide, and the TSE short-sell ratio eased to 38.0%.
The Nikkei 225 jumped 2.40% to 69,946.86 on Monday, a push toward the 70,000 line led by semiconductor equipment names, while the TSE short-sell ratio eased to 38.8% — the least defensive print in three sessions.
Tokyo Stock Exchange opening and closing prices come from itayose call auctions that suspend time priority and cross all orders at a single price; everything in between trades zaraba, under strict price-then-time priority. Here is how both engines work, why special quotes and daily price limits can leave a marketable order unfilled, and how the monthly SQ settlement is built from each constituent’s initial price on settlement day.
Tokyo snapped a two-day winning streak on Friday: the Nikkei 225 fell 0.94% to 68,309.46 as SoftBank Group dropped 5.8% and semiconductor names gave back part of the week’s surge. The TSE short-selling ratio hit 41.1% — the defensive tone in positioning persists.
The Nikkei 225 surged 3.30% to 68,956.72 on a ferocious semiconductor rally after Micron’s record earnings, but the advance was strikingly narrow: the TOPIX proxy added just 0.67%, banks fell hard, and the TSE short-selling ratio printed 38.8%.
The Nikkei 225 closed Wednesday at 66,753.72, up 1.94%, led by SoftBank Group’s 6.6% surge and a broad bank rally, while the TSE short-selling ratio eased to 40.4% — the softer end of its recent range.
For a September 30 record date under Japan’s T+2 settlement, the last day to buy with dividend rights is September 28 and the ex-dividend day (kenri-ochi) is September 29 — the morning thousands of stocks open lower at once and the Nikkei 225 carries a calculable dividend drag that has nothing to do with sentiment. Here is how to count the dates, estimate the drop, and avoid misreading it.
The Nikkei 225 fell 0.60% for a second straight loss as rising global yields and oil pressed on breadth — only one of 17 sectors advanced — while SCREEN and Disco rallied hard and Tokyo Electron gained ground. The TSE short-sell ratio held elevated at 43.1% into fiscal half-year-end ex-dividend week.
The Nikkei 225 gave back an opening pop to close down 0.73% at 65,877.62 on Monday as the yen strengthened on BOJ rate-hike speculation, Nidec collapsed 17.6%, and TSE short selling climbed to 44.3% of turnover — the top of its recent range.