Nikkei Stock Average surpasses $30,000 for the first time in 30 years

Japan’s Nikkei Stock Index exceeded $30,000 on Monday for the first time in more than 30 years, Report informs, citing TASS.

The index was boosted by Wall Street profits at the end of last week, substantial domestic revenues, and Japan’s first domestic COVID-19 vaccine approval.

According to Kyodo News, the Nikkei Stock Average, which rose more than 6% this month, reached 30,006.46, the highest level since the bubble economy when assets swelled.

As of 10 am (local time), it rose 331.45 points, or 1.12 percent, from Friday to 29,851.52. According to Kyodo News, the broader Tokyo Stock Exchange Index for all First Section stocks on the Tokyo Stock Exchange rose 14.08 points (0.73%) to 1,947.96.

On the other hand, Winners were led by mining industry issues, oil, coal products, and securities companies.

However, Mizuho Securities’ senior technical analyst Yutaka Miura said the benchmark is expected to lose momentum with some sense of accomplishment as the Nikkei Stock Average exceeds $30,000.

From October to December, Japan’s GDP increased by 3.0% in real terms, or 12.7% annually, from the previous quarter.