Nikkei Closes Highest Since 1989

Feb 22, 2024 | News On Japan

TOKYO - Tokyo's Nikkei surged over 800 yen on Thursday, closing at a record high, surpassing the record set in December 1989.

On the 22nd, the Nikkei Average rose broadly, including semiconductor-related stocks and automakers, following the strong earnings report of the American semiconductor giant "NVIDIA."

At 10:16 AM, it broke through the bubble era's closing high of 38,915 yen, and shortly after the start of the afternoon trading, it also surpassed the intraday high of 38,957 yen, reaching a historic level for the first time in about 34 years.

The closing price was 30,908 yen, up 836 yen from the previous day.

Market participants acknowledge some overheating, while some also believe that "the upward momentum may continue into next week."

Source: ANN

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