An ETF tracking the inverse performance of the Nikkei has seen a notable spike, with Southern 2x Short Nikkei (07515) climbing more than 4% in early trading.

As of the latest update, the ETF was up 4.13% at HK$14.16, with turnover reaching HK$3.94 million.

On the macro front, the USD/JPY pair breached the 153 level earlier this morning, marking its weakest point since February. Over the past two trading sessions, the Japanese yen has strengthened sharply, decisively breaking through the psychological threshold of 155.

Adding to the momentum, data released by the Japanese government on Tuesday revealed that nominal wages in July rose 4.7% year-on-year, surpassing the revised 4.0% growth seen in June. This figure not only represents the largest increase since 1997 but also blew past economist expectations of 3.8%, further fueling market speculation that the Bank of Japan will raise interest rates next week.