Nikkei Surpasses 30,000 Points... First Time in 30 Years and a Half

[Asia Economy Reporter Yujin Cho] The Nikkei Stock Average in Tokyo, Japan, surpassed the 30,000 yen mark intraday for the first time in over 30 years.

On the 15th, the Nikkei 225 index at the Tokyo Stock Exchange started the day at 29,662.41 and crossed the 30,000 level during the morning session. This is the first time the Nikkei index has broken the 30,000 mark since August 1990, over 30 years ago.

The Japanese stock market has continued to reach new highs as concerns over a resurgence of COVID-19 eased and optimism about vaccines grew, with cyclical companies such as SoftBank and Nippon Steel posting strong earnings.

News that real GDP in the fourth quarter of last year (October to December) grew by 3.0% compared to the third quarter (July to September), marking positive growth, also influenced investor sentiment. Assuming this trend continues for a year, the estimated annualized real GDP growth rate is 12.7%.

In Shoji Hirakawa, senior global strategist at the Tokyo Research Institute, said, "All investors, including individuals, institutions, and foreigners, are entering the Japanese stock market with an optimistic outlook."

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