Shares on the Tokyo Stock Exchange closed Thursday at a 30-year high. The market took on an optimistic wave, which was started by the inauguration of the new US President Joe Biden and then swept across Wall Street.
The main Tokyo stock index Nikkei strengthened by 0.82 percent to 28,756.86 points. This is the highest level since August 1990. The market welcomed the information that Republicans want to support the US Congress in the $ 1.9 trillion in fiscal stimulus package presented by President Biden. This is clearly good news for investors.
“Shares rose due to expectations of a stimulus package in the United States,” Yoshihiro Takeshige, director of investment at Asahi Life Asset Management, told Reuters. According to him, however, Japanese stocks also pushed up numbers confirming the strong recovery of the Chinese economy.
Banking and technology stocks strengthened the most on the Tokyo Stock Exchange. In addition, the companies will start announcing their financial results for the last quarter of last year and the whole of last year from Monday. Investors are already trying to reflect this in current stock prices.