Nikkei closes at 34-year high, largest annual rise since 2013

Dec 29, 2023 | News On Japan

TOKYO - The Tokyo stock market finished trading on Friday at its highest year-end level in 34 years.

The Nikkei closed at 33,464 yen, 75 yen lower than the previous day, but with an annual increase of about 28%, the largest since the launch of "Abenomics" back in 2013.

Export stocks such as steel and automobiles rose due to a solid U.S. economy and weaker yen.

Market insiders are optimistic about Japanese stocks for next year as well, with some expecting the Nikkei Average to surpass its pre-bubble peak and reach an all-time high.

Source: ANNnewsCH

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