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Japanese stocks reclaimed a historic peak reached over three decades ago as investors pour money into a country that’s finally escaped deflation and is on a path to sustainable growth.
The Nikkei 225’s stellar rally saw shares go from the most richly-valued in the world to among the most depressed – before finding an equilibrium now in between these extremes. The gauge closed at 39,099 on Thursday, surpassing the previous high set in Dec 1989. At the earlier record, the Japanese market had swelled to the point that it accounted for 37% of the world’s stocks, surpassing 29% for the US, according to the World Bank.
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