Japan’s Nikkei 225 surpasses 40,000 for the first time while China gets ready to unveil GDP target
CNN
Asian Markets have started the week on an upbeat note.
Asian Markets have started the week on an upbeat note. Japan’s Nikkei 225 index jumped above 40,000 for the first time on Monday, extending a historic rally that analysts say has just begun. The milestone comes just days after it had set a record closing high of 39,098.68, eclipsing its previous 1989 peak. The Nikkei index, which was up 0.5% on Monday, has been on a tear for more than year, driven by a combination of strong corporate earnings, a weaker yen that helps exporters, and an influx of foreign investors looking for an alternative to China’s depressed markets. “We expect Japan to be one of the top performing markets between 2023 and 2030,” said Jefferies analysts in a research report on Sunday. “The great shareholder return story in Japan has begun.” The Nikkei has surged more than 20% this year, making it the best performer among major equity indexes in the world.
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