Tokyo’s benchmark stock index closed at a more than two-decade high Wednesday, as the Japanese market rides a global equities rally with its U. S. counterparts hitting fresh records. The Nikkei 225 rose 0.28 percent, or 57.76 points, to end…
Tokyo’s benchmark stock index closed at a more than two-decade high Wednesday, as the Japanese market rides a global equities rally with its U. S. counterparts hitting fresh records.
The Nikkei 225 rose 0.28 percent, or 57.76 points, to end at 20,881.27, its best finish since December 1996.
The Japanese market closed at levels last seen the year that Prince Charles and Diana divorced, Bill Clinton won his second term as U. S. president and Nintendo launched its Pokemon brand.
Japan Inc has been reporting bumper profits and the world’s number-three economy is on an upswing, but the Japanese market has also benefited from a global equities rally that saw Wall Street chalking up more record finishes on the past two weeks.
The Nikkei has rebounded from below the 15,000 mark in June last year after Britain’s vote to exit the EU pummelled world markets, while a strong yen hit Japanese exporters.
The index has regained vigor since U. S. President Donald Trump was elected as dealers bet on his plans for big spending and tax cuts.
Japan kicks off its latest earnings season this month while the nation’s economy has logged its longest string of quarterly gains in a decade.
