Nikkei Hits New High, Surpassing 1980s Bubble Peak After 'Lost Decades'
• Nikkei 225 stock index hit a record high of 39,156.97 points, surpassing its previous 1989 bubble-era peak
• The 1980s saw a massive asset bubble in Japan, with soaring property prices and companies spending billions on overseas assets
• The bubble catastrophically burst in the 1990s, leading to "lost decades" of economic stagnation and deflation
• Nikkei has recovered since 2013, growing 28% in 2023 on the back of central bank easing policies and a weak yen boosting exports
• Risks remain, including uncertainty around interest rates, lower-than-expected wage growth, and potential BoJ policy tightening