Tokyo stocks fell on September 28, with the Nikkei 225 closing at 65,878, down 486.58 points, as an early rally above 67,000 faded into profit-taking despite dividend-related buying and continued support for banks and insurers.
Pawn shops in Japan are seeing growing demand as rising living costs push more people to borrow against their valuables, with customers pledging everything from family jewelry to luxury watches and gold coins to cover everyday expenses, medical bills and business costs.
Tokyo stocks head into September 28 with the Nikkei 225 sitting at 66,364 after a five-session winning streak, as investors weigh strong artificial intelligence and semiconductor momentum against dividend-related trading, a weak yen, high bond yields and lingering uncertainty over the Bank of Japan’s next move.
A levee collapse at Lake Inbanuma in Chiba Prefecture following heavy rain from Typhoon No. 25 has devastated a koi breeding facility in Narita, leaving nearly 100,000 fish lost and causing an estimated 1 billion yen in damage to livestock and equipment.
Japan's benchmark long-term interest rate climbed to 3.115% during trading, reaching its highest level in nearly 30 years for the second consecutive day as persistent inflation concerns and expectations of further interest rate hikes fueled selling in government bonds.
Tokyo stocks rose strongly on September 25, with the Nikkei 225 closing at 66,364, up 850 points, as buying in semiconductor and artificial intelligence-related shares combined with demand for dividend-paying financial stocks ahead of the September 28 interim dividend deadline.