Snapshot: The Nikkei 225 is trading down a sharp 3.55% at 69,788, mirroring weakness in global tech stocks. Investors are taking profits after a sustained rally, with significant pullbacks seen in heavyweight semiconductor and AI-related names. The Bank of Japan’s recent Semiannual Report on Currency and Monetary Control provided no immediate catalyst for a reversal.
- Nikkei 225 at 69,788, down 3.55% d/d.
- Risk of further downside if US tech weakness persists into NY open.
Bias into NY: The immediate bias is lower, driven by domestic profit-taking and a broader tech sector correction. While US yields have softened, the sharp Nikkei decline suggests a domestic risk-off sentiment is dominating, with a break below 69,500 potentially opening up further downside towards 69,000.