Japan Market Daily | Kabutaro & Friends

On July 28, 2026, Tokyo's Nikkei 225 fell sharply, closing down 2,566.27 points (-3.95%) at 62,364.92. It fell more than 3,000 points intraday to a low of 61,923.60, marking the first time it dropped below 62,000 during trading hours in about two months, since late May. Semiconductor stocks had fallen in the US the previous day, with the Philadelphia Semiconductor Index (SOX) declining for a third straight session, and South Korea's KOSPI plunged more than 10% at one point during the day, further chilling investor sentiment and triggering risk-off selling concentrated in semiconductor-related shares in Tokyo. Kioxia Holdings hit its daily down-limit following reports of massive damages, marking its second consecutive day as the top decliner on the Prime Market. Retail-related stocks were bought, however, keeping decliners to about two-thirds of all issues. USD/JPY traded around 163.70, moving in a range of 163.67 to 163.83. Oil (WTI) recovered to the high-$81 range, while gold rose to $4,076 per ounce. The US Federal Reserve's FOMC meeting began today and runs for two days.