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Yen Near ¥149 After BOJ Caution as Tokyo Stocks Retreat

Reports of Alibaba developing AI chips reinforced selling in semiconductor-linked shares after U.S. tech weakness.

Overview

  • Japan’s currency traded in the high ¥148s on Sept. 3 morning after sliding late on Sept. 2 when BOJ Deputy Governor Ryozo Himino was seen as cautious on near‑term additional rate hikes.
  • The Nikkei fell by 123.90 points to 42,186.59 at the Sept. 3 morning close, following U.S. declines, with selling in SoftBank Group and Tokyo Electron noted.
  • On Sept. 1 the Nikkei closed at 42,188.79, down 529.68, after an intraday drop of more than 800 points, while TOPIX fell 11.99 to 3,063.19 on heavy turnover of about 1.72 billion shares.
  • The Dow Jones Industrial Average fell 249.07 points on Sept. 2, and brokers cited a rise in U.S. long‑term yields as a further weight on risk sentiment and the yen.
  • FX trading showed choppy flows around ¥147 on Sept. 1 before the move toward ¥148–149, reflecting rate‑differential dynamics and fragile sentiment tied to tech headlines.