The Nikkei average rose to 58,850 yen, marking a record high for the third consecutive day as investor expectations grow for the Takagi administration.
On the Tokyo Stock Exchange, the Nikkei average closed at 58,850 yen, up 96.88 yen (0.16%) from the previous day, marking its highest closing value for three consecutive days. This increase reflects ongoing investor optimism regarding the economic policies of the Takagi administration. A broad range of stocks were bought, indicating confidence in the government’s performance and potential market stability.
Despite starting the day down by 147 yen at 58,606 yen, and experiencing a dip where losses exceeded 600 yen, the market rebounded in the afternoon. Stocks such as those of Fast Retailing, which operates Uniqlo, and the Sony Group were particularly favored as investors regained confidence. This remarkable recovery contributed to an overall increase of more than 2000 yen in the Nikkei average over the four-day period, signaling a strong bullish trend in the market.
Additionally, the broader Topix index, which encompasses a wider array of stocks, also climbed to a record high, finishing at 3,938.68, up 58.34 points (1.50%) from the previous day. This positive momentum in the stock market not only reflects investor sentiment towards the current administration but also highlights broader trends of growth in the Japanese economy, despite external pressures such as fluctuations in major tech stocks like Nvidia in the U.S. market.
