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The Nikkei closed up 0.86%, approaching a record high

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The Nikkei closed up 0.86%, approaching a record high

Tokyo Stock Market Nikkei Index Nears Historic High

The Tokyo stock market Nikkei index has been on the rise, approaching its highest level in history. On the morning of February 16, the index rose more than 700 points from yesterday’s closing price, reaching 38,800 points, just over 400 points away from its historical high in 1989. This surge in the index marks the highest level since January 1990 during the bubble economy period.

The Topix Index also saw gains, rising 32.88 points to 2624.73 points, its highest level since February 1990. The overall trading volume was approximately 2.20417 billion shares.

The market’s rapid climb can be attributed to the gains in U.S. stocks overnight. However, semiconductor stocks, which had initially led the market higher, saw a round of profit-taking causing some stocks to turn negative. This led to a narrowing of the Nikkei Index’s gains after reaching its peak.

Despite this, the depreciation of the yen against the U.S. dollar in the foreign exchange market has been a positive factor for the stock market. The stock prices of the export sector have remained strong, supporting the market’s growth.

Investors are predicting continued growth based on good corporate performance expectations, with many expecting stock prices to rise in the future. As a result, the stock market is generally on an upward trend.

It is evident that the Tokyo stock market is seeing significant growth, with the Nikkei Index standing at its highest levels in decades. The market’s performance has sparked a sense of optimism among investors, raising hopes for continued success in the near future.

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