Hey everyone, Hirokichi here. The Nikkei 225 snapped a three-day winning streak today (August 27, 2026), closing down at 66,131 yen. Nvidia’s earnings came in well above market expectations, but that good news actually triggered profit-taking in some related names, which weighed on the index. Meanwhile, TOPIX kept climbing for a sixth straight session – moving in the opposite direction from the Nikkei. That contrast is what caught my eye today.
(1) Japan’s Stock Market Today: Nikkei Snaps a 3-Day Win Streak
On August 27, the Nikkei 225 closed at 66,131.98 yen, down 130.18 yen (0.20%) from the previous day. TOPIX (Tokyo Stock Price Index), on the other hand, rose 6.20 points (0.15%) to close at 4,117.22, marking its sixth consecutive day of gains (source: Nikkei).
Early in the session, the Nikkei was up nearly 700 points on the back of strong overseas cues. But as the day went on, investors grew cautious ahead of the Jackson Hole Economic Symposium, which kicked off in the US on the 27th, and position-trimming sales picked up. By the close, the index had given back its gains and turned negative. Trading value on the Tokyo Stock Exchange Prime Market came to roughly 7.87 trillion yen.
(2) What Moved the Market: Nvidia’s Earnings and Advantest’s Profit-Taking
Nvidia reported its May-July 2026 quarterly results early Japan time on the 27th, beating market expectations on both revenue and profit. During the earnings call, the company guided for full-year revenue growth of roughly 70% for the fiscal year ending January 2028 – a number that came in well above what analysts had penciled in. I think that’s a genuinely strong outlook.
That said, Advantest, which supplies testing equipment used for Nvidia’s chips, had already rallied the day before in anticipation of the results, so it saw profit-taking today. Advantest alone dragged the Nikkei down by more than 260 points – a good reminder that “great earnings” don’t always mean “instant rally.” On the other hand, Tokyo Electron, Fujikura, Ibiden, SoftBank Group, and TDK all rose and helped support the index (source: Nikkei). Fast Retailing, Recruit Holdings, and Konami Group were among the biggest drags.
(3) The Yen and the Bank of Japan
In the currency market, the dollar-yen pair traded around 159.32-159.33, a touch weaker for the yen compared with the previous day (source: Nikkei). Bank of Japan Deputy Governor Ryozo Himino spoke at a meeting in Saitama Prefecture on the 27th, saying the BOJ would “discuss thoroughly at every policy meeting” when it comes to further rate hikes. His comments stopped short of signaling a hike at the September meeting, and the pause in the recent rise in interest rates seems to have offered some support to stocks.
(4) Tonight’s US Market Outlook: All Eyes on Jackson Hole
Tonight, weekly US jobless claims and July wholesale inventories are due out at 9:30pm Japan time. But the bigger story is the Jackson Hole Economic Symposium, hosted by the Kansas City Fed, running from the 27th through the 29th. On the 28th (US time), Fed Chair Kevin Warsh is scheduled to speak, and his remarks could move markets significantly depending on the tone he strikes.
July’s core PCE (Personal Consumption Expenditures) price index – the Fed’s preferred inflation gauge – came in above market expectations, so there’s some concern that Chair Warsh could lean more hawkish (more inclined toward rate hikes) than expected. On top of that, markets are still digesting Nvidia’s results, and lingering worries about a slowdown in AI-related capital spending mean Wall Street could see a heavy, cautious session tonight.
(5) Wrap-Up
Today was a good reminder that “great earnings don’t always mean an instant rally.” Nvidia’s numbers were genuinely impressive, but the market had already priced in a lot of that optimism, so some of the related names ended up selling off on the news. Tonight’s Jackson Hole symposium, and especially what Chair Warsh has to say, could be a key event for where rates and stocks head from here, so I’ll be keeping a close eye on it.
You can also check out my previous market recap here: [Market Recap] Nikkei Falls 488 Points to 65,528, Chip Stocks Slide as TOPIX Diverges Higher – Tonight’s Focus: Jackson Hole Ahead of US Futures Rally [2026/8/24].
* This article is for informational purposes only and is not investment advice. Please invest at your own responsibility.
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