Nikkei Futures

NKD=F

$69,645.00

-25.00·-0.04%

Key Statistics

Open

$69,795.00

Previous Close

$69,670.00

Day High

$70,150.00

Day Low

$68,555.00

52-Week High

$73,830.00

52-Week Low

$39,180.00

50-Day Avg

$64,753.30

200-Day Avg

$55,132.40

1-Year Change

73.60%

Volume

5,039

10-Day Avg Vol

6,063

Exchange

CME

About Nikkei Futures

Nikkei Futures is a derivative contract that reflects market expectations for the underlying index. Futures trade nearly around the clock and are widely used to gauge pre-market sentiment. 52-week range: 39,180 – 73,830. Trailing 12-month change: 73.60%.

By Liveworldmarket Editorial Team · Last reviewed 29 June 2026

Nikkei 225 Futures (NKD on CME) — A Practical Guide

Nikkei 225 futures are listed in multiple venues — most notably the Osaka Exchange (OSE) yen-denominated contract and the CME USD-denominated NKD contract. The NKD multiplier is $5 × Nikkei 225 index. The CME contract is heavily used by US-based macro funds because it removes the yen-conversion overhead and trades during US hours.

The Nikkei 225 itself is a price-weighted index of 225 large Japanese companies — a structure inherited from the Dow Jones Industrial Average, which it was designed to mimic when it launched in 1950. Price-weighting means high-priced stocks like Fast Retailing and SoftBank exert outsized influence on the index regardless of their market cap.

History & contract origins

Nikkei 225 was first calculated retroactively to May 1949 and continuously published from September 1950. CME-listed dollar-denominated Nikkei futures (NKD) launched in 2004 to complement the older yen-denominated OSE contract.

Trading hours & session layout

CME Globex NKD hours (IST):

Weekly open	Sun 04:30 IST
Tokyo cash open (TSE)	05:30 IST
Tokyo lunch break	08:00 – 09:00 IST
Tokyo cash close	11:30 IST
Weekly close	Sat 02:30 IST

How to read this tape

Nikkei is the most yen-sensitive major equity index in the world. A weak JPY mechanically boosts Nikkei via exporter earnings translation; a strong JPY caps it. Watch the Nikkei / USD-JPY correlation — over rolling 90-day windows it is usually positive and near +0.6. When that correlation breaks down it typically signals a regime change in BoJ policy expectations.

Frequently asked questions

Why is the Nikkei 225 price-weighted instead of cap-weighted?

Historical accident — it was designed in 1950 to mirror the Dow Jones Industrial Average's methodology. Japan's other major benchmark, TOPIX, is cap-weighted and includes the entire Tokyo Stock Exchange Prime section, which most professional asset managers prefer.

Editorial article. Information only — not investment advice. Read our Risk Disclaimer before acting on any market data shown here.