Japan’s Nikkei hits peak with tech and insurance surge.

March 6, 2024
1 min read





TLDR:

  • Japan’s Nikkei share average reached an all-time high on Friday.
  • Tech-related stocks and insurance companies saw gains.

Japan’s Nikkei share average hit a record high on Friday, with tech-related stocks performing well as the index rose to 39,883.86 by midday break. The surge in the index can be attributed to the positive performance of tech-related shares, such as Tokyo Electron Ltd and Advantest. Insurance companies also saw gains after announcing plans to sell cross-shareholdings, leading to increased shareholder returns in the financial sector. The news comes amid expectations of continued boost in returns and reform requests from the Tokyo Stock Exchange. Traders’ sentiment was further boosted by record highs in the S&P 500 and Nasdaq, fueled by technology stocks linked to AI. Overall, the market remains bullish with the Nikkei standing close to the 40,000-point mark.


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