Nikkei Surpasses 40,000 for First Time

Mar 04, 2024 | News On Japan

TOKYO - The Tokyo stock market saw the Nikkei average close above 40,000 yen for the first time in history on Monday.

Following a rise in the New York market at the end of last week, the Nikkei average started trading above the 40,000 yen mark on the 4th. Semiconductor-related stocks led the charge, with gains exceeding 400 yen at one point. However, the increase narrowed in the afternoon trading session.

The closing price was 198 yen higher than the previous week, at 40,109 yen.

Hideji Yoshioka, Executive Officer at SMBC Nikko Securities, said, "Personally, I feel that we have surpassed a significant milestone at 40,000 yen. I hope to continue without getting too excited or discouraged."

Tetsuhiro Nishi, Executive Officer at Nomura Securities, commented, "With discussions about wage increases, movements of the Bank of Japan, and corporate performance, it seems that we can try to push higher as these uncertainties are somewhat resolved."

Market participants noted that while there is a sense of achievement in breaking the major threshold, "a sense of caution towards higher prices is a given."

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