Markets

Nikkei 225 Closes above 35,000 for 1st Time in 34 Years

Yomiuri Shimbun file photo
Tokyo Stock Exchange

Jiji Press

15:46 JST, January 11, 2024

Tokyo (Jiji Press)—Japan’s Nikkei 225 stock average went above 35,000 for the first time in 34 years on Thursday, chiefly propelled by Wall Street advance.

The benchmark Nikkei average extended its winning streak to a fourth session by adding 608.14 points, or 1.77 pct, to close at 35,049.86, the highest finish since Feb. 22, 1990.

The broader TOPIX index on the Tokyo Stock Exchange rose 38.39 points, or 1.57 pct, to end at yet another 34-year high of 2,482.87.

The Nikkei topped 35,000 in early morning trading, as investor appetite was stimulated by all U.S. stock gauges climbing on Wednesday amid the unabated popularity of technology shares. Buying in exporters on the softer yen also helped lift the market.

Later, the market turned top-heavy because of a dearth of fresh cues and the yen’s minor rebound.