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Nikkei Eases From Record High on Profit-Taking

Moves in the yen are steering sector rotations that are adding volatility.

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Overview

  • The Nikkei 225 fell 168.02 points to 43,546.29 on Aug. 19, while TOPIX slipped 4.33 to 3,116.63 as investors took profits near record territory.
  • The benchmark briefly set another intraday peak early in the session before reversing on caution about lofty prices.
  • Semiconductor-linked shares led early gains, and parts of the auto and other export-focused groups were bought as the yen softened.
  • The currency traded around ¥147 per dollar, a backdrop that has recently supported exporter earnings expectations.
  • On Aug. 18, the Nikkei logged a second straight record close at 43,714.31, and TOPIX also hit an intraday high.