Overview

• Japan’s benchmark fell as much as more than 500 yen on Oct. 1, with the morning close down 521.37 to 44,411.26 after slipping below the 45,000 mark.
• The yen hovered near the high ¥147–¥148 per dollar range in Tokyo and New York trading, reinforcing pressure on exporters’ earnings outlooks.
• BOJ board member Asahi Noguchi said the need to adjust the policy rate has been rising, a signal that spurred yen buying and narrowed perceived U.S.–Japan rate differentials.
• U.S. stocks continued to climb on expectations for further Fed rate cuts, with the Dow up 81.82 to 46,397.89, underscoring a policy and performance divergence with Tokyo.
• Caution over a potential U.S. government shutdown and ex-dividend-related selling earlier in the week added to Tokyo’s risk-off tone and accelerated profit-taking.