Japan Stock Market Rises to 5th Highest Ever... Asian Markets Also Soar High

News of US White House and Congress agreeing on a $2 trillion economic stimulus package

drives Asian stock markets including Japan higher

[Image source=EPA Yonhap News]

[Asia Economy Reporter Kwon Jaehee] The Tokyo Stock Exchange in Japan surged more than 1,400 points at closing, marking the fifth-largest increase in history. This is interpreted as a significant impact on stock prices following the US Congress's agreement on a $2 trillion (approximately 2,455 trillion KRW) economic stimulus package to respond to the novel coronavirus disease (COVID-19).

On the 25th, the Nikkei 225 index on the Tokyo Stock Exchange closed at 19,546.63, up 8.04% (1,454.28 points) from the previous day. It is the first time in two weeks that the closing price has recovered to the 19,000 level.

The Nikkei 225's increase of more than 1,400 yen at closing is the largest in 26 years, ranking as the fifth-largest surge ever.

The TOPIX index also ended trading at 1,424.62, up 6.87% (91.52 points).

NHK reported that the rise was due to "news that the White House and Senate leadership in the US have agreed on a $2 trillion economic stimulus package to respond to COVID-19, which caused stock prices to rise significantly," and added, "The decision to postpone the Tokyo Olympics also appears to have eased uncertainties surrounding the event, influencing stock prices."

Meanwhile, major Asian stock markets including South Korea also closed higher on the day. The KOSPI index closed at 1,704.76, up 5.89% (94.79 points). The KOSDAQ index ended at 505.68, up 5.26% (25.28 points).

As of 3:50 PM, the Hong Kong Hang Seng index was trading at 23,369, up 3.11% (705.51 points). At the same time, the Shanghai Composite index in China was trading at 2,781.39, up 2.17% (58.95 points).

The Taiwan Weighted Index closed at 9,644.75, up 3.87% (359.13 points).

This content was produced with the assistance of AI translation services.