The Nikkei 225 fell 3,318 points to 64,425.95 on Thursday — its steepest drop since March — as a hot U.S. CPI print and credit stress in AI infrastructure hammered semiconductor names. The TSE short-selling ratio held at 39.4%, while pharma, real estate and retail caught the defensive rotation.
The Nikkei 225 gave back an early advance of more than 600 points to close marginally lower at 67,744.29 on Wednesday, its fifth straight decline, as ASML’s quarterly disclosures triggered afternoon selling in high-multiple tech. The yen stayed weak near 158.4, banks extended a brutal week, and the TSE short-selling ratio eased to 39.0%.
The Nikkei 225 fell 1.42% to 69,042.11 on Thursday, a second straight decline, as SoftBank Group, MUFG and chip-equipment names bore the brunt of profit-taking. TSE short selling rose to 41.6% of turnover — the defensive end of the recent range — ahead of Friday’s options SQ.
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 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.
The Nikkei 225 closed up 0.33% at 64,136.25 on Thursday, surrendering most of an early 700-point surge as investors squared up ahead of Friday’s Bank of Japan decision and a long holiday weekend. The short-selling ratio held at 41.4% — elevated but within its recent band.
The Nikkei 225 shook off a soft US lead to close 0.69% higher at 63,923 on Wednesday, powered by energy and chip-equipment names, with the yen at 155 and the Bank of Japan decision two days away. Short selling ran at 41.5% of TSE turnover.
Tokyo split on Tuesday: the Nikkei 225 eased 0.15% to 66,215 while TOPIX rose 0.51% as money rotated out of tech into cyclicals. Long JGB yields pressed toward 3%, the yen held just under 160, and the TSE short-sell ratio printed an elevated 41.8%.
Tokyo closed higher Friday as the Nvidia-driven AI trade pulled chip and IT names up, the yen held near 159.56, and the TSE short-selling ratio sat mid-range at 43.5% — a neutral positioning read ahead of the September BoJ meeting.
The Nikkei 225 lost the 65,000 level in early trade on tech-led spillover, then closed +0.50% at 65,856.43 as afternoon bargain hunting and a SoftBank rebound took over. Short selling ran at 43.1% of TSE turnover and the Nikkei VI rose to 30.41 — defense is still on.