Japan's Nikkei 225 rose 64% in 10 months — then fell 8.5% in 12 sessions, all on chips

From August 2025's 42,718 close to June 2026's record 70,062, the Nikkei 225 gained roughly 64% — then dropped 8.5% to 64,141 by July 17. Chip and electronics stocks powered both moves. On August 12, 2026, the index closed at 67,524, up 0.83%, again led by semiconductors. The market's direction now hinges on whether that sector holds.