Nikkei 225 Hits All-time High

Nikkei 225 Index Hits All-time High

Japan’s Nikkei 225 share index surged briefly to an all-time high on Thursday, surpassing its previous record set in December 1989. By midday, the index was up 1.6% at 38,861.98 after peaking at 38,924.88. The Nikkei 225’s previous record was 38,915.87, right before Japan’s bubble economy collapse in the early 1990s.

Foreign Investor Interest Boosts Japanese Shares

Japanese shares have seen significant gains recently, with strong interest from foreign investors driving trading volume on the Tokyo exchange. Despite the prolonged weakness in the Japanese economy, the depreciation of the yen against the U.S. dollar has attracted investments.

Mixed Performance in Asian Markets

In other parts of Asia, shares showed a mixed trend. Hong Kong’s Hang Seng fell by 0.3%, while the Shanghai Composite index edged 0.1% higher. Australia’s S&P/ASX 200 was down by 0.1%, and Seoul's Kospi added 0.2%.

Wall Street Ends Mostly Higher

On Wednesday, Wall Street mostly ended higher after a quiet day of trading, with major technology stocks once again impacting the market's performance.

Market Recap: S&P 500 Inches Up, Dow Also Sees Gains

The S&P 500 (SPX) saw a slight increase of 0.1% to reach 4,981.80. Despite starting the day in negative territory, the benchmark index managed to climb higher just before markets closed.

Dow Jones Makes Modest Recovery

The Dow Jones Industrial Average (DJIA) also experienced a small gain after spending most of the day in loss. It rose by 0.1%, reaching 38,612.24 by the end of the trading day.

Nasdaq Composite Dips

On the other hand, the technology-heavy Nasdaq composite (COMP) fell by 0.3% to close at 15,580.87.

Bond Yields Edge Up

Bond yields experienced an increase, with the yield on the 10-year Treasury rising to 4.33% from 4.28% the previous day.

Federal Reserve Meeting Minutes Impact

The Federal Reserve released minutes from its latest meeting in January, revealing concerns among officials about moving too quickly to adjust their benchmark interest rate. Following the meeting where the rate remained unchanged for the fourth consecutive time, investors are now anticipating a potential rate cut in June, as prospects for a cut in March diminish.

Oil and Forex Movement In Thursday's trading session, U.S. benchmark crude oil (CLJ24) recorded a minimal increase of 8 cents to reach $77.99 per barrel, while Brent crude (BRNJ24), the international standard, saw a rise of 6 cents to close at $83.09 per barrel. Additionally, the U.S. dollar (USDJPY) traded at 150.32 Japanese yen, up from 150.04 yen.

This summary encapsulates the key movements and events that shaped the financial markets on this particular trading day.