The yen fell to a 23-month low of ¥160.79 per dollar, edging past a level around ¥160 that many in the market view as a trigger for intervention. Japan’s Chief Cabinet Secretary Minoru Kihara said authorities would “take appropriate action as needed at any time.” In equities, the Nikkei 225 broke above 71,000 for the first time and touched an intraday high of 71,398.58, led by semiconductor-related stocks after overnight gains in the Philadelphia Semiconductor Index.

Japan ride-hailing platform Go completed the country’s largest IPO of the year, raising $553 million, with Goldman Sachs serving as a joint global coordinator after investing ¥10 billion in 2023. Shares rose 21% on the first trading day, valuing the company at ¥186 billion. The deal reflects Goldman’s routine investment-banking activity with no disclosed new capital commitment, ownership change or revised guidance. Any impact on Goldman is limited to underwriting fees and mark-to-market gains on its existing stake, and is not positioned as a near-term trading catalyst.