Japan’s Nikkei crosses 39,000 as robust earnings, investor-friendly measures drive risk-on sentiment
Pedestrians walking across with crowded traffic at Shibuya crossing square.
Jaczhou | E+ | Getty Images
Japan’s Nikkei 225 hit a record high Thursday, powered by banking, electronics and consumer stocks as robust earnings and investor-friendly measures fuel a blistering rally in Japanese equities this year.
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The central bank believes wage increments would translate into a more meaningful spiral, encouraging consumers to spend.
But prolonged high inflation rates have hit domestic consumption — a key reason why Japan’s GDP shrank for a second consecutive quarter, confounding analysts that had expected a small expansion in Japan’s economy. It also meant that Japan ceded its place as the world’s third-largest economy to Germany.
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