Japanese Stock Market Surpasses 37,000 Intraday for First Time in 34 Years... Consecutive Record Highs

Impact of US Stock Price Rise and Strong Corporate Earnings

The Nikkei 225 average stock price index, a representative stock index of the Japanese stock market, has consecutively reached its highest level in 34 years since the collapse of the "bubble economy."

On the 11th, the Japan Nikkei 225 average stock price (Nikkei index) surpassed the 35,000 mark for the first time in about 34 years. [Image source=Yonhap News]

On the 9th, the Nikkei index closed at 36,897, up 0.09% from the previous day. During the trading session, the Nikkei index briefly surpassed the 37,000 mark.

This is the first time in 34 years since February 1990, during the "bubble economy" period, that the Nikkei index has exceeded 37,000.

The rise in the Nikkei index is attributed to the increase in U.S. stock prices and strong performance by Japanese companies. Japan's public broadcaster NHK analyzed that the Standard & Poor's (S&P) 500 index, one of the representative stock indices of the New York Stock Exchange, surpassed 5,000 intraday for the first time on the 8th (local time), and continued yen weakness led to ongoing buy orders.

Meanwhile, as the yen's value declined, the yen/dollar exchange rate approached 150 yen. On that day, the yen was trading in the 149 yen range per dollar. The yen/dollar exchange rate had risen to 151.89 yen in mid-November last year but then fell to the low 140 yen range before turning upward again.