newsinsightplus.com
- 2022Can
- 2022Top
- February 22, 2024
- 0 Comments
BBC HomepageSkip to contentAccessibility HelpYour accountLiveNotificationsHomeNewsSportWeatheriPlayerSoundsBitesizeMore menuMore menuSearch BBCHomeNewsSportWeatheriPlayerSoundsBitesizeCBBCCBeebiesFoodClose menuBBC NewsMenuHomeIsrael-Gaza warCost of LivingWar in UkraineClimateUKWorldBusinessPoliticsCultureMoreTechScienceHealthFamily & EducationIn PicturesNewsbeatBBC VerifyDisabilityBusinessMarket DataEconomyYour MoneyCompaniesTechnology of BusinessCEO SecretsArtificial IntelligenceJapan’s main stock index closes above 1989 record highPublished9 minutes agoShareclose panelShare pageCopy linkAbout sharingImage source, EPA-EFE/REX/ShutterstockImage caption, The Nikkei 225 topped the 39,000 mark during Thursday’s tradingBy Mariko OiBusiness reporterJapan’s main stock index has hit an all-time closing high, surpassing the previous record set 34 years ago.The Nikkei 225 rose 2.19% on Thursday to end the trading day at 39,098.68.That topped the previous record closing high of 38,915.87 set on 29 December 1989, the last day of trading that year.Asian technology shares were boosted after US chip giant Nvidia revealed strong earnings, driven by demand for its artificial intelligence processors.Global investors are returning to the benchmark index thanks to strong company earnings, even as the country’s economy has fallen into a recession.The weakness of the Japanese currency has also helped to boost share prices of Japan’s exporters as it makes their products cheaper in overseas markets.The Nikkei 225 hit its previous record high after years of soaring stock and property prices.Less than three years after that peak the benchmark index had lost almost 60% of its value as the Japanese economy was engulfed in an economic crisis.Since then the Japan has struggled with little or no economic growth and falling prices, known as deflation.Deflation is bad for an economy as persistent price declines mean that consumers tend to hold off from buying big ticket items due to the expectation that they will be cheaper in the future.Last week, official figures showed that the Japanese economy had unexpectedly slipped into recession in the last three months of 2023.The country’s gross domestic product (GDP) contracted by a worse-than-expected 0.4% in the last three months of 2023, compared to a year earlier.It came after the economy shrank by 3.3% in the previous quarter.The figures from Japan’s Cabinet Office also indicate that the country has lost its position as the world’s third-largest economy to Germany.The latest figures were the first reading of Japan’s economic growth for the period and could still be revised.Two quarters in a row of economic contraction are typically considered the definition of a technical recession.Related TopicsJapanMore on this storyJapan unexpectedly slips into a recessionPublished7 days agoWhat is happening to the Japanese yen?Published28 October 2022Can the next Bank of Japan boss fix its economy?Published14 February 2023Cost of living: The shock of rising prices in JapanPublished9 June 2022Top StoriesSpeaker under pressure after chaotic Gaza votePublished1 hour agoUS hospital halts IVF after court says embryos are childrenPublished5 hours ago’I’m sad for everyone who’s been killed’: How two years of war changed RussiaPublished34 minutes agoFeaturesHroza, Ukraine’s village of orphansThe Papers: ‘Fury in Commons’ and ‘King’s tears’Sahil Omar: The real story behind a fake criminalThe sacrifices key to Kenya’s late marathon legendHow AI is helping the search for extraterrestrial lifeWhy US politicians are on a pilgrimage to Taiwan’Recovering from food addiction is like walking a tiger’Olivia Colman on why sweary letters were original trollingMoment giant Antarctica drone takes off. VideoMoment giant Antarctica drone takes offElsewhere on the BBCFive geological wonders from around the worldFrom the very tip of the North Pole to the southernmost point of the AmericasAttributionBitesizeWhich classic did Elbow cover?The band join the BBC Concert Orchestra in the BBC Piano RoomAttributionSounds’We have built the world, perhaps inadvertently, for men’Philanthropist Melinda French Gates on what she’s learned from her life so farAttributionSoundsA tasty swap that could really improve our healthMichael discovers the benefits of incorporating wholegrains into our dietAttributionSoundsMost Read1Speaker under pressure after chaotic Gaza vote2Whale song mystery solved by scientists3US hospital halts IVF after court says embryos are children4’Fury in Commons’ and ‘King’s tears’5Biden’s dog bit Secret Service agents 24 times6Historical sites in Afghanistan ‘bulldozed for looting’7Baby loss certificates introduced in England8Firms must make ‘adjustments’ for menopausal woman9’I’m sad for everyone who’s been killed’: How two years of war changed Russia10Police force ‘failed’ women who were killed
[ad_1] The benchmark Nikkei 225 closed at 39,098.68 on Thursday, surpassing the all-time high set 34 years ago.
