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2h ago

Nikkei Extends Losses Near 45,000 on Stronger Yen, U.S. Shutdown Risk

Fed-cut expectations kept Wall Street firmer, creating a contrast with Tokyo’s exporter-led weakness.

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Overview

  • By the morning break on Sept. 30, the Nikkei stood at 45,023.48 after an early slide of more than 300 points that briefly pushed it below 45,000.
  • On Sept. 29, the index dropped over 400 points to a morning close of 44,892.52 as selling accelerated.
  • The yen strengthened into the upper ¥148 per dollar range (around ¥148.56–58), pressuring export-linked shares alongside post–interim dividend selling.
  • Yen gains followed U.S. PCE inflation data roughly in line with forecasts and remarks from BOJ board member Asahi Noguchi suggesting a greater need to adjust policy rates.
  • U.S. stocks rose on continued expectations for Fed rate cuts, but caution over a potential U.S. government shutdown weighed on sentiment in Tokyo.