The Nikkei 225 gave back a morning rally above 65,600 to close down 0.19% at 65,142.78 on Wednesday, as a firmer yen and Brent crude approaching $100 revived stagflation worries. Energy and steel led; retail and banks lagged. The TSE short-selling ratio stayed elevated at 44.2%.
The Nikkei 225 closed just 0.14% lower at 66,311.93 on Monday after erasing a morning plunge of more than 1,500 points. Banks, utilities and energy led an afternoon recovery while Advantest fell 4.48%, the short-sell ratio held mid-range at 42.3%, and JGB yields kept climbing into the BOJ’s September meeting.
The NT ratio — the Nikkei 225 divided by TOPIX — is Tokyo’s cheapest leadership gauge, and it was on display on August 21, 2026, when the Nikkei fell while the broad market rose. Here is how to compute it, why price weighting lets a handful of high-priced stocks like Fast Retailing move the spread, what high and low readings signal about market leadership, and how professionals trade the NT spread with OSE futures.
The Nikkei 225 rose 1.36% to 66,216.79 on Thursday, snapping a multi-session losing streak as automakers led the rebound — Toyota +4.25%, Nissan +6.77% — with July trade data pointing to surging AI-driven semiconductor exports. The TSE short-selling ratio eased to 39.1%, the low end of its recent range, with July national CPI due Friday morning.
Tokyo’s five-day winning streak ended Tuesday as semiconductor names sold off hard, the 10-year JGB pushed toward 3%, and the yen hovered near 160. The TSE short-selling ratio climbed to 42.6% — the top of its recent range — as positioning turned defensive.
The Nikkei 225 rose 0.74% to 69,220.25 on Monday, a fifth straight gain led by semiconductors and SoftBank, while the broader TOPIX fell as yields climbed and only 5 of 17 sectors advanced. Short selling ran at 39.4% of TSE turnover.
The Nikkei 225 closed at 67,524.06 (+0.83%) on Wednesday with banks and semiconductor-equipment names leading, the yen soft at 159.36, and the TSE short-sell ratio at 40.3% — while the Nikkei Volatility Index jumped seven points ahead of Friday’s options SQ.
Tokyo, Aug 10: The Nikkei 225 surged 2.08% to 66,970 on a semiconductor rally led by Advantest and Tokyo Electron, while TOPIX lagged at +0.59%. The yen was little changed around 158.5 as JGB yields kept drifting higher. Short-sell ratio: 41.1%, mid-range.
Seven numbers tell you most of what matters in Japanese equities each day: the Nikkei-TOPIX (NT) ratio, USD/JPY, the TSE short-selling ratio (37-45% over the past week), weekly investor flows, JGB yields, US chip stocks, and three bellwether stocks — here is where each lives and how to read it.
The Nikkei 225 closed just 0.12% lower at 65,606.71 after recovering from a 1,000-point intraday drop driven by chip-related names. Breadth was positive, the short-sell ratio eased to 37.1%, and the yen gave back intervention gains at 158.45.