Japan Market Daily | Kabutaro & Friends

On June 3, 2026, the Nikkei 225 rallied sharply, closing up 1,667.89 yen at a fresh historic high of 68,402.13 yen, breaching the 68,000 threshold for the first time on both an intraday and closing basis. Following a record-setting session on Wall Street where all three major indexes hit all-time highs, the Tokyo market experienced explosive buying centered on semiconductor and technology shares driven by robust AI demand, with the benchmark index briefly surging over 2,000 yen. In the FX market, a rise in crude oil futures accelerated dollar buying, pushing the USD/JPY cross into the 160 range for the first time in about a month since the suspected government intervention on April 30. In response to the rapid currency move, Finance Minister Katayama issued a warning to the market, stating that authorities stand ready to take appropriate action whenever necessary.