Tokyo, Japan – Japan’s Nikkei share average has accomplished an unprecedented milestone, marking the largest absolute increase ever for a fiscal year, surging by 12,328 points by the end of trading on Friday.
This remarkable feat comes on the heels of successive record highs achieved by the index in the current quarter. Notably, on February 22, the Nikkei breached levels not seen since 1989, a period synonymous with Japan’s infamous bubble economy.
The remarkable ascent of the Nikkei has been underpinned by several factors. Improved corporate governance practices have instilled confidence among investors, while foreign buying, supported by a weakening yen, has injected further momentum into the market. Additionally, there exists a prevailing expectation that the Bank of Japan will maintain its accommodative monetary policy stance, further fueling investor optimism.
The monumental surge of the Nikkei underscores the resilience and buoyancy of Japan’s stock market, cementing its position as a formidable player on the global stage.