Overview

• Tokyo stocks fell on Oct. 10, with the Nikkei closing down 491.64 points at 48,088.80 on profit-taking and weakness flowing from U.S. markets.
• The drop came a day after the index surged to a record 48,580.44, its first-ever close above 48,000, supported by policy bets tied to LDP leader Sanae Takaichi.
• The yen weakened to roughly 153 per dollar in New York late Oct. 9 and hovered in the upper 152s in Tokyo on Oct. 10 as traders priced a slower path to BOJ tightening.
• Benchmark 10-year JGB yields traded near 1.69%, around a 17-year high, with investors citing concerns that fiscal expansion could worsen Japan’s debt outlook.
• SoftBank Group’s more than 11% jump on Oct. 9, following its plan to buy ABB’s robotics business, contributed roughly 500 points to the Nikkei’s record advance.