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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Sangjin] On July 4th, both the Nikkei 225 and TOPIX indices in Japan reached record highs. The Nikkei index closed 0.82% higher at 40,913, surpassing its previous closing record of 40,888 set on March 22nd, marking a new high after three months. The TOPIX, which includes a large number of listed companies, also closed up by 0.92% at 2898, achieving its highest level in 34 and a half years.
Previously, the highest level for the TOPIX was recorded on December 18, 1989, during the "bubble economy" period, at 2884. The upward trend in the Japanese stock market is attributed to favorable winds from the U.S. stock market and a weakening yen. Expectations of a rate cut in September due to sluggish employment indicators boosted sentiment. On the New York Stock Exchange, the S&P 500 and Nasdaq indices also set new all-time highs on the 3rd (local time).
The phenomenon of a "super yen depreciation" after 37 years also positively influenced the market. The yen-dollar exchange rate moved around the mid-161 yen per dollar mark on that day, maintaining its lowest level in 37 and a half years since December 1986, during the bubble economy.
In terms of specific stocks, SoftBank Group rose by 4.53% to 11,190 yen (approximately 90,775 won), marking its highest price in 24 years since February 2000. Toyota Motor rose by 1.98% and Mitsubishi UFJ Financial Group (MUFG) by 1.47%.
Meanwhile, on the same day, Taiwan's Taiex index also hit a record high.
AlphaBIZ Kim SangJin(letyou@alphabiz.co.kr)
