On September 12, the Nikkei 225 Average Price Index, Japan's leading stock market index (hereafter referred to as the Nikkei Index), closed at a record high for the third consecutive day.
On this day, the Nikkei Index finished trading at 44,768, up 0.89% from the previous day's closing price, setting a new all-time high on a closing basis. This marks the third consecutive day that the index has reached a record closing high.
During intraday trading, the index climbed as high as 44,888, also breaking the previous intraday record. The upward momentum was attributed to the positive influence from the United States, as all three major stock indexes on the New York Stock Exchange reached all-time highs on September 11 (local time).
Market analysts noted that growing expectations for an interest rate cut by the U.S. Federal Reserve next week have fueled hopes for a positive impact on the Japanese economy, which in turn stimulated buying among investors. In addition, expectations that the new government, following the Shigeru Ishiba Cabinet, may implement expansionary fiscal policies have also boosted investor sentiment.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
