Nikkei Plunges as Yen Surge Hits Exporters

Tokyo stocks plummeted on September 8, as the Nikkei 225 closed at 65,269, down 1,130.51 points or 1.70% due to a sudden yen surge.

The stronger currency hit exporters and forced investors to reassess corporate earnings, equity valuations, and the broader economy.

The TOPIX fell 75.47 points or 1.83% to 4,050.33, with pressure spreading across exporters, financials, machinery, precision instruments, and other sectors sensitive to currency and interest-rate moves.

The yen's jump was driven by an unwinding of short-yen and carry-trade positions as investors priced in faster BOJ tightening, supported by stronger wage data and an upward revision to Japan's April-June economic growth.