Japan's Nikkei Stock Average tops 40,000 for first time
Mar 04, 2024 - asia.nikkei.com
On March 4, 2024, Japan's benchmark Nikkei Stock Average crossed the 40,000 mark during a trading session, reaching a significant milestone after achieving an all-time high for the first time in 34 years in February. The surge has been attributed to foreign investors, drawn by corporate governance reforms, a weak yen, and the Nippon Individual Savings Account (NISA), a tax-deferred investment program targeted at small investors.
The rally is also being fueled by global expectations of an AI boom, which is boosting semiconductor-related stocks. This marks a key moment in Japan's stock market history, reflecting the impact of both domestic policy changes and global tech trends on the country's financial landscape.
Key takeaways:
Japan's benchmark Nikkei Stock Average crossed the 40,000 mark during a trading session on March 4, 2024.
This milestone comes after hitting an all-time high for the first time in 34 years in February.
The rally has been driven by foreign investors, attracted by corporate governance reforms, a weak yen and the Nippon Individual Savings Account (NISA).
Expectations of an AI boom are also boosting semiconductor-related stocks globally.
