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The Markets
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Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
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The Markets
by Proactive
Proactive UK has moved.
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Hardware & electrical equipment

Nikkei record: Back to the future as Japan index breaks 34 year record

Japan's stock market reached a historic milestone as the Nikkei 225 index soared to a new all-time closing high, breaking a record that stood for 34 years.

On Thursday, the index surged by 2.2% to close at 39,098.68, surpassing the previous high of 38,915.87 set on December 29, 1989 - when Back to the Future II was top of the box office and Do They Know its Christmas was Britain's number one record.

In the last year, it has advanced 42%, fuelled by a rally in Asian technology stocks. The latest boost came from Taiwan-based, US-listed semi-conductor giant Nvidia's results.

While the UK's stock index is trading around its highs, its progress has been palpably more pedestrian - the FTSE 100 has receded in the past 12 months by 3%.

The Nikkei's progress reflects a growing confidence among global investors, attracted by robust corporate earnings, despite Japan's recent slip into recession.

Contributing to the market's performance, the depreciation of the Japanese yen has benefitted exporters by making their goods more competitively priced in international markets.

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