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.
The BOJ’s Outlook (Tenbo) Report, published at the January, April, July and October policy meetings, moves markets through three channels: revisions to the median core-CPI forecast, the risk-balance language, and named board dissents. Here is how to read each one — and why the forecast table often matters more than the rate decision itself.
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 fell 0.93% to 65,683 as Tokyo Electron and SoftBank dragged, yet 15 of 17 sectors advanced and the TOPIX proxy gained 0.57%. Short selling eased to 39.9% of turnover as money rotated from semis into pharma, foods and autos.
The Nikkei 225 jumped 2,342.91 points to 66,300.44 on Wednesday as an overnight surge in US chip names lit up Tokyo’s AI complex. SoftBank Group soared 13.96%, Advantest 8.77%. The TSE short-selling ratio eased to 41.8% — still defensive, but the least so in three sessions.
SQ (Special Quotation) is the settlement price for Nikkei 225 futures and options, computed from the opening auction prints of all 225 constituents on the second Friday of each contract month. Quarterly ‘major SQ’ Fridays — March, June, September, December — produce some of the largest opening volume prints of the year, and much of that turnover reflects settlement-related hedging rather than fresh directional views. Here is how the mechanics work and how to read the numbers.
The Nikkei 225 fell 0.94% to 63,754.90 on Monday as a confirmed joint Japan-US yen-buying intervention sent the dollar down 2.12% to 156.79, pressuring exporters. Fanuc cratered 14% on heavy volume, the TSE short-selling ratio held at an elevated 45.4%, and the Nikkei VI jumped to a stressed 35.50.
The Nikkei 225 jumped 4.03% to 64,362.02 on a narrow, semiconductor-led rebound while the BOJ held rates at 1.0% with one dissent and USD/JPY closed at 160.28 amid intervention talk. The TSE short-sell ratio hit 43.8% — defensive positioning even into strength.
The Nikkei 225 rose 0.71% to 61,867.43 on a chip-led rally after Advantest’s guidance hike, but TOPIX fell 0.53% with only 3 of 17 sectors higher. Short selling ran 37.1% of TSE turnover, the Nikkei VI sits at a stressed 39.79, and the BOJ decides Friday.