Nikkei Tops 38,800 to Near All-Time High in Morning

Jiji

9:53 JST, February 16, 2024

Tokyo, Feb. 16 (Jiji Press)—Japan’s Nikkei 225 stock average climbed more than 700 points in morning trading on Friday, topping 38,800 to come close to its all-time high marked in 1989 during the height of Japan’s asset inflation-driven bubble economy.

At 9:09 a.m., the benchmark index stood up 701.63 points, or 1.84 pct, from Thursday at 38,859.57, nearing its record high of 38,915.87 scored on the final trading day of 1989.

A wide range of Tokyo stocks attracted buying on the back of overnight rises in U.S. stocks, which came in tandem with a fall in U.S. long-term interest rates, brokers said. Gainers included Nikkei heavyweights such as Tokyo Electron.