[Nikkei Recap] Sep 8, 2026: Nikkei 225 Falls 1,130 Points to 65,269 as the Yen Surges and Middle East Fears Weigh

Hey everyone, Hirokichi here. On September 8, 2026, Tokyo stocks fell sharply, with the Nikkei 225 closing down 1,130.51 points (-1.70%) at 65,269.33. Wall Street was closed for Labor Day on the 7th, so the session started without much direction, but a rapid rise in the yen through the day triggered heavy selling in automakers, and losses widened into the afternoon. Today I want to walk through why the yen jumped so fast, and why some stocks actually gained while the broader market fell.

How the Indexes Moved Today

This table shows that the large-cap Nikkei 225 and TOPIX both fell around 1.7-1.8%, while the Growth 250, which is weighted toward smaller, newer companies, held up much better at -0.57%. That gap suggests the selling was concentrated in big, export-heavy names rather than spreading evenly across the market.

As the chart above shows, the Nikkei had just climbed back to 66,399.84 on September 7 (+1,378.90), so today’s 1,130-point drop erased most of that bounce. Trading volume came in at roughly 2.10 billion shares, and TOPIX fell in step with the Nikkei, suggesting the selling was broad-based rather than limited to a handful of names (Sources: Kyodo News, Kabutan).

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What Moved the Market Today

(1) A rapid surge in the yen. In Tokyo currency trading on the 8th, the yen jumped as far as the upper-152 range against the dollar at one point, driven by growing expectations that the Bank of Japan will raise interest rates sooner rather than later. That broke through the ¥155 line that had held even during the yen-buying interventions from late April through July (Source: Nikkei). The yen had strengthened more than ¥7 in roughly a week, moving from the ¥160 range the previous week. For exporters, a stronger yen than what they’d budgeted for tends to squeeze profits, which is why automaker stocks came under heavy selling pressure.

(2) Renewed concern over tensions in the Middle East. Reports of rising tension in the region added to risk-off sentiment during the session, which likely encouraged some investors to lock in profits.

(3) On the other hand, solid demand for AI (artificial intelligence) and semiconductors helped cushion the fall. Several chip-related names were among the day’s gainers, and the Nikkei actually traded in positive territory at points during the day (Source: Kyodo News). Selling eventually won out by the close, but the fact that AI-related names kept attracting buyers shows that theme hasn’t lost its pull.

Today’s Notable Stocks and Why They Moved

This table shows how the same piece of news — a stronger yen — hurt exporters like Toyota and Honda while helping an import-heavy retailer like Nitori. Let’s go stock by stock.

TechGO（テックゴー）ハイクラスに届くエンジニア転職

Toyota Motor (7203)

Toyota closed down ¥127.5 (-4.12%) at ¥2,968.5. The company’s planning exchange rate for the fiscal year ending March 2027 is ¥160 to the dollar, nearly ¥10 stronger than today’s rate of around ¥153. When the actual rate runs stronger than the planning rate, overseas sales are worth less once converted back into yen, which is exactly the kind of headline that triggers selling (Sources: Minkabu, Kabutan News). The pace of the yen’s move, faster than the market had priced in, likely amplified the reaction.

Honda Motor (7267)

Honda fell ¥84.5 (-4.99%) to ¥1,610.5, the steepest drop among the automakers I’m covering today. Honda’s planning rate is ¥155, and the actual rate has now pushed past that level too. Beyond the exchange rate story, Honda’s smaller market cap than Toyota’s makes its stock more volatile, and shares had been trading near a 52-week high recently, which likely made profit-taking easier to trigger.

SoftBank Group (9984)

SoftBank Group jumped ¥339 (+5.45%) to ¥6,556, its second straight day of big gains after an 11.22% surge on the 7th. The rally has been fueled by a string of AI and semiconductor-related headlines, including strength in shares of UK-based Arm Holdings (majority-owned by SoftBank) and reports about OpenAI rolling out a new model. South Korea’s KOSPI, which is heavily weighted toward chipmakers, also rose on the 8th, adding to the sense that AI-related buying was spreading across Asian markets (Sources: Nikkei, Investing.com). Even as the broader market sold off, money kept flowing toward the AI theme.

Nitori Holdings (9843)

Nitori HD gained ¥176 (+5.47%) to close at ¥3,392.0. Because Nitori sources a large share of its furniture and home goods from overseas, a stronger yen directly lowers its import costs, which investors read as a tailwind for earnings. It’s a neat contrast to Toyota and Honda: the exact same currency move worked in Nitori’s favor for the opposite reason it hurt the automakers.

Advantest (6857)

Advantest, a major maker of semiconductor testing equipment, fell ¥680 (-1.97%) to ¥33,800. Shares had risen for four straight sessions before today, so some of the drop looks like profit-taking. The decline was notably smaller than the automakers’, suggesting ongoing confidence in AI and chip demand kept the stock from falling as far as the broader index.

Charted side by side, the split is easy to see: the two automakers down 4-5%, and SoftBank Group and Nitori HD each up more than 5%.

What This Means for Individual Investors

If you’re dollar-cost averaging for the long term, a day like today is just one data point along the way. Reacting to daily swings and pausing your contributions can actually mean missing chances to buy at lower prices, so my own approach is to keep the same pace regardless of days like this. For anyone trading more actively, the currency market is likely to keep driving short-term moves. Now that the yen has broken through the ¥155 level, further yen strength looks plausible for a while, so it may be worth reviewing position sizes if you’re holding export-heavy names.

What to Watch Next

(1) The yen. Whether it pushes further into the low-¥152 range or stabilizes around the upper-¥152s will shape how export-related stocks trade from here. (2) The Bank of Japan’s policy stance. Since early rate-hike expectations were part of what drove today’s yen strength, comments from BOJ officials and upcoming economic data (like monthly labor statistics and GDP-related releases) are likely to move markets. (3) Developments in the Middle East, which will keep influencing how much risk-off selling shows up in the days ahead.

Let’s keep at it, slow and steady. See you tomorrow!

Yesterday’s recap (Sept 7) → [Nikkei Recap] Sept 7, 2026: Nikkei 225 Jumps 1,378 Points to 66,399 as Chip Stocks Rally on Micron Production News

日本語版はこちら → https://hirokichiiii.com/投資のいろは/nikkei-daily-2026-09-08/

* This article is for informational purposes only and does not recommend any specific investment. Please make investment decisions at your own responsibility.

If you’d like more detail on SoftBank Group’s earnings and AI strategy, check out this stock analysis: “[Stock Analysis] SoftBank Group (TYO: 9984): Record ¥5 Trillion Profit — What’s Next for Son’s AI Bet?”

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