The Strategist

Japanese stock market reaches new high since summer of 1990

02/08/2021 - 09:10

Nikkei 225, the main index of the Tokyo Stock Exchange, reflecting the dynamics of stock prices of 225 leading companies in Japan, reached its highest level since August 1990.

It rose to 29,351.54 points (+2%), according to the exchange website. 

The maximum value of the Nikkei 225 at the beginning of trading on Feb. 8 was 29,397.57 points. The previous maximum of a key Japanese stock index since 1990 was recorded on January 7, when it rose to 27 553.04 points against the background of protests in the U.S. Capitol. 

Experts attribute the current growth to investors' hopes for the soonest adoption of additional economic measures in the U.S. The exchange index TOPIX, which is calculated as weighted average of capitalization of 538 Japanese companies, rose by 1.5% up to 1919.35 points.

In mid-January, the new U.S. President Joe Biden prepared a $1.9 trillion stimulus plan that includes measures to support citizens and businesses. In addition, Mr. Biden promised to strengthen the fight against the consequences of the pandemic.