As Japan’s Nikkei 225 index broke a 34-year record for earnings, there was a cautiously optimistic response. With news that the country slipped into recession in the final quarter of 2023, the buoyant results from the stock exchange brought a reason for hope.
On February 22, the intraday index of Japan’s biggest 225 companies closed above 39,000, surpassing the 38,915 recorded set on December 29 1989. The strength of US artificial intelligence and chipmaker Nvidia pushed the number over the line.
