Nikkei breaks 70,000 after Bank of Japan raises key rate
Business
Japan's Nikkei stock index just smashed past 70,000 for the first time ever, right after the Bank of Japan raised its key interest rate to 1%, the highest it has been since 1995.
This bold move signals fresh confidence in Japan's economic comeback and reassured investors who had been anxious about growth and company profits.
Tech and infrastructure stocks rally
The big winners behind this record? Tech and infrastructure stocks riding the global AI wave.
Chip-testing company Advantest saw its shares jump over 5%, while Fujikura and Furukawa Electric climbed nearly 10% and more than 7%.
Analysts say this rate hike marks another step in Japan's shift toward higher wages, better profits, and steady inflation after years of deflation.