Why Nikkei 225 (JP225) fell 1.54%
Nikkei 225 (JP225) fell 1.54% on September 23, 2026 — Istanbul index purge sparks Japan equity selloff.
What happened
The Istanbul stock exchange announced removal of over 25% of its main index constituents as part of a regulatory response to a local liquidity crisis.
Why it moved
Forced index removals fragment liquidity in a regional exchange and disrupt passive fund tracking; forced selling by index-tracking vehicles and loss of institutional mandate-driven buying pressure capital outflows and…
Why it matters
Japan (Yen & Equities): The Nikkei 225 fell as regional contagion risk from Istanbul's liquidity crisis sparked flight-to-quality into safer markets; emerging-market exchange dysfunction can spook global risk appetite.
What would break the thesis
If Istanbul's regulators reverse the removals or restore liquidity confidence, the regional selloff risk eases; a broader emerging-market liquidity crisis could extend pressure on Japan as a swing proxy for regional…