Posted 2/23/2024, 4:18:00 PM
Nikkei 225 Hits New 34-Year High Despite Recession, Driven by Foreign Investors and Strong Earnings
- Nikkei 225 index hit a record high of 39,098.68 points, surpassing its 1989 peak before Japan's financial bubble burst
- Index is now back to where it was 34 years ago at the height of Japan's economic boom
- This time, economy is in recession rather than a bubble
- Index has surged 18% this year thanks to foreign investors attracted by weak yen and record corporate earnings
- Younger Japanese investors less wary of stock market than older generation affected by 1990s bubble bursting