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Japan’s Nikkei Stock Average Hits 34-Year High: Eased US Interest Rate Hikes and Decreasing Inflation Expectations Provide Support

On January 9th, following the long weekend, the Tokyo Stock Exchange saw a significant rise in the Nikkei 225 average stock price. It temporarily hit a high in the range of 33,900 yen, marking an increase of over 600 yen compared to the closing price from the previous weekend.

On the 8th, a holiday for Coming-of-Age Day, the American stock market was the center of attention, particularly the high-tech stocks, which experienced buying pressure. This trend continued in the Tokyo market. As a result, the Nikkei average showed a temporary rise of over 600 yen, updating the highest value during trading hours since the collapse of the bubble.

On the 9th, at the Tokyo Stock Exchange, the Nikkei average price immediately after the start of the afternoon session was 420 yen higher than the previous trading day. This is a result compared with the closing price of the previous session. Consequently, the Nikkei average updated its highest level in about 34 years.

Factors influencing market trends were a slowdown in momentum of interest rate hikes in the United States and a decrease in inflation expectations. These movements increased market confidence and boosted investment in risk assets.

Also, on the 9th at the Tokyo stock market, the Nikkei average recorded its highest level in nearly 33 years and 10 months since the bubble period of March 1990. This outcome signifies the strength of the entire market while maintaining a stable growth is expected.


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