Nikkei jumps to fresh 34-year high, closes in on all-time peak

Resonac Holdings

16/02/2024 24:50

By Brigid Riley
       TOKYO, Feb 16 (Reuters) - Japan's benchmark Nikkei got
off to a roaring start on Friday, opening the morning session at
its highest since Japan's economic bubble burst in the late
1980s.
    The Nikkei share average  .N225  was last up 1.6% at
38,769.64, surpassing the post-economic bubble era high of
38188.74. So far it's up 14.0% for the year. 
    The broader Topix  .TOPX  was up 1.1% at 2620.53.     
    The Nikkei was within touching distance of the all-time
record high of 38,957.44 hit in December 1989. 
    The stock market was buoyed by a strong day on Wall Street
overnight. U.S. stocks closed higher as retail sales data
declined more than expected, feeding hopes the Federal Reserve
will soon start cutting interest rates in coming months.
    The largest percentage gainers in the index were Advantest
Corp  6857.T  up 4.91%, followed by Tokyo Electron Ltd  8035.T 
gaining 4.74% and Resonac Holdings Corp  4004.T  up by 4.32%.

    


 (Reporting by Brigid Riley
Editing by Shri Navaratnam)
 ((brigid.riley@thomsonreuters.com;))