Posted 3/4/2024, 9:26:00 AM
Nikkei Hits Record High Above 40,000 as Asian Stocks Rally on Earnings and Weak Yen
- Japan's Nikkei 225 stock index hit a record high above 40,000 points on Monday, continuing a historic rally driven by strong corporate earnings, weak yen helping exporters, and foreign investor inflows
- The Nikkei has surged over 20% this year, making it the top performing major equity index globally
- Optimism around semiconductors also boosted Taiwan's benchmark to a record high, led by Taiwan Semiconductor Manufacturing Co.
- Chinese stocks traded cautiously ahead of this week's National People's Congress where growth targets and stimulus measures will be unveiled
- China's leaders face challenges shoring up the economy including stabilizing property, countering deflation, reversing capital outflows, and saving the stock market