Overview

• Japan’s Nikkei 225 added 378.38 points to 43,837.67 for a record closing high, while the TOPIX also set a record at 3,140.97.
• The U.S. Labor Department’s downward revision of nonfarm payrolls by 911,000 over the year fueled rate-cut expectations and helped the Dow finish at a record 45,711.34.
• The dollar–yen hovered in the mid-¥147 range, reflecting sensitivity to shifting rate expectations and macro signals.
• After briefly topping 44,000 intraday for the first time on Sept. 9, the Nikkei reversed on profit-taking, underscoring ongoing volatility.
• Buying was concentrated in chip-related names and SoftBank Group, and Japan’s retail participation remains elevated with about 26.47 million new NISA accounts and ¥59 trillion in purchases as of March 2025.