Nikkei Index Hits Record High for Second Consecutive Day
Japan's leading stock index, the Nikkei 225 Average (hereafter referred to as the Nikkei Index), surpassed the 43,000 mark during intraday trading on August 13, setting a record high for the second consecutive day.
As of 9:37 a.m. on this day, the Nikkei Index stood at 43,055, up 0.79% from the previous trading day. For the first time ever, it exceeded the 43,000 mark during intraday trading and set a new all-time high for the second day in a row.
The previous day, the Nikkei Index closed at 42,718, surpassing the previous record high set on July 11, 2024, after about one year and one month. Nihon Keizai Shimbun analyzed that the upward momentum of the U.S. stock market provided a tailwind, stating, "High-tech stocks are supporting the market."
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On August 12 (local time), the U.S. stock market saw the S&P 500 rise by 1.13% and the Nasdaq climb by 1.39%, with both indices closing at new record highs. As the U.S. Consumer Price Index (CPI) for July rose in line with expectations, anticipation grew that the Federal Reserve would cut its benchmark interest rate.
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