Japan’s Nikkei 225 stock index updated its all-time high on Thursday, exceeding 39,000 points for the first time since 1989. This is evidenced by trading data from the Tokyo Stock Exchange.
At the end of trading on February 22, the Nikkei 225 index closed at 39,098.68 points, with an increase of 2.19%.
The previous record was set more than 30 years ago in December 1989 with 38,957.44 points. It was then founded against the background of the economic bubble in Japan in the 1980s.
The Japanese index is already up more than 16% this year. Growth continued against the background of a rise in shares of technology companies after the publication of financial results of the American NVIDIA. As the agency stated ReutersNVIDIA’s revenue in the last quarter increased by 265% to 22.1 billion dollars, and its net income increased to 12.29 billion dollars.
“NVIDIA’s earnings growth was the perfect catalyst for Japanese stocks to hit record highs,” Charu Chanana, an analyst at Saxo Capital Markets, told the publication.
The agency also states that the dynamics of the Nikkei 225 are also affected by the weakening of the yen, which is positive for exporters, and corporate revenues increase with the improvement of corporate governance in companies.
Some analysts improved their forecasts for the index. at Citigroup reportedHe said that they expect Nikkei 225 to reach 45 thousand points by 2024.
At the beginning of February, the American S&P 500 index rose for the first time in history. closed Over 5000 points.
Russians before explainedHow to save wisely for old age.
What are you thinking?
Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.