Japanese stocks are on fire, hitting a record not seen since the ’89 bubble. Thanks to solid corporate moves and bargain prices, investors fleeing China’s turmoil are all over it.
The Nikkei smashed past its old peak, making history. It’s taken 34 years, but we’re finally shaking off the deflation blues and stepping into a new market era. This year, the Nikkei’s already up 17%, outshining other Asian markets and even leaving the Nasdaq’s recent gains in the dust.
Nomura’s trading floor was buzzing as the Nikkei broke through its historic high. Despite Japan’s economic challenges and global uncertainties, the Nikkei’s resilience is powered by its global trade ties and a weaker yen boosting exports.
This breakthrough is a big deal, signaling a fresh start for Japan’s market, attracting loads of investment. Foreign cash has been pouring in, with big names like Warren Buffett highlighting Japan’s attractive valuations.
With the market kicking off 2024 strong, thanks to robust earnings and a favorable yen, plus expectations of continued easy money from Japan’s central bank, the vibe is super bullish. Analysts are upping their Nikkei forecasts, though they’re keeping an eye out for any short-term hiccups.
