Tokyo Stocks Hit 33-Year High: Nikkei Tops 36,500
In a remarkable surge, Tokyo stocks continued their upward trajectory on Monday morning, reaching a milestone not seen in over three decades. The key index, the Nikkei Average, soared beyond 500 points at one stage, surpassing the 36,500 mark. This marks the highest intra-day level since the asset-inflated bubble economy of February 1990.
As morning trading concluded, the Nikkei settled at an impressive 36,375, exhibiting a notable gain of 412 points from the previous week's close. The robust market activity saw nearly 770 million shares change hands.
Investors were notably bullish on technology-related stocks, inspired by the recent rally on Wall Street, which was primarily led by the surge in high-tech shares. Market sources reported a widespread buying spree in Tokyo, encompassing a diverse range of shares, including electronic equipment, machinery, and semiconductors.
The surge in the Nikkei reflects growing optimism and confidence among investors, and the broad-based market rally indicates positive sentiment across various sectors. Analysts attribute the bullish trend to the ongoing strength in technology stocks, both domestically and globally.
The current market dynamics underscore the resilience of the Japanese stock market and its ability to navigate global economic challenges. As investors keep a close eye on market developments, the Tokyo Stock Exchange remains a focal point for those seeking opportunities in the ever-evolving financial landscape.
