Japan's Nikkei smashes records—what's behind the buzz?
Japan's Nikkei index just closed at an all-time high, jumping 1.3% to 52,518. Even the Topix index set a new record.
This is the second day in a row of strong gains, kicking off 2024 with some serious momentum.
Why does this matter?
Nearly 85% of major Japanese stocks are up right now, showing that it's not just a few big names driving this rally—it's most of the market.
For anyone interested in investing or global trends, this broad surge signals growing confidence in Japan and could mean new opportunities ahead.
What's fueling the rise?
A brighter outlook for company profits (thanks to economic changes and reforms) is getting more people to buy Japanese stocks. Plus, a strong rally on Wall Street overnight gave things an extra push.
Energy and banking shares led the way—Eneos Holdings soared over 5%, and banks weren't far behind.
Not all sunshine: Chubu Electric slips
One exception was Chubu Electric Power, which dropped almost 10% after concerns about its nuclear plant earthquake standards—a reminder that even in booming markets, some sectors face real challenges.