Japan Nikkei Index Hits Highest Level Since Bubble Burst 30 Years Ago

Closed at 26,296.86 on the 25th... Highest since June 1991
Accompanied rally with US stock market rise

[Image source=AP Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] On the 25th, the Nikkei 225 index at the Tokyo Stock Exchange in Japan reached its highest level in about 30 years. This rise was attributed to the simultaneous increase following the Dow Jones Industrial Average and the Standard & Poor's (S&P) 500 index, two of the three major New York stock markets in the United States, hitting record highs on the same day.

On that day, the Nikkei 225 index closed at 26,296.86, up 0.5% (131.27 points) from the previous day.

This marked a record high for the second consecutive trading day following yesterday, the highest level in 29 years and 6 months since June 1991.

During the morning session, the Nikkei 225 surged as much as 2.07% (540.83 points) to 26,706.42.

However, after it was reported that Tokyo Metropolitan Government would request restaurants and other businesses to shorten their operating hours until 10 p.m. for 20 days starting from the 28th due to the spread of the novel coronavirus infection (COVID-19), sell-offs surged, narrowing the gains.

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