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Tokyo Stocks Slide From Records on U.S. Tech Weakness as BOJ Sets ¥147 Reference Rate

Profit-taking plus a Nasdaq-led retreat pressured semiconductor shares.

Overview

  • By the Aug. 20 morning close, the Nikkei 225 fell 663.12 points to 42,883.17 after briefly dipping below the 43,000 mark.
  • Semiconductor-linked stocks led losses after U.S. tech gauges weakened, with the Nasdaq down and Nvidia sold off overnight.
  • The yen hovered in the mid-¥147 per dollar range, a currency level that had recently supported export-focused names.
  • The Bank of Japan published its September reference exchange rate at ¥147 per U.S. dollar, formalizing the prevailing FX backdrop.
  • Two days earlier, the Nikkei set both an intraday high and a record close at 43,714.31, lifted by yen-driven buying in exporters.