Nikkei Stock Average Heads for Fourth Day of Near 34-Year Highs

The Nikkei Stock Average appears headed for a fourth straight day of near 34-year highs, underpinned by expectations for the Bank of Japan to maintain its super-loose accommodative monetary policy stance and a weaker yen.

Japan’s benchmark index was recently 1.2% higher at 35474.57, on track to reach the highest closing level since February 1990, after hitting near 34-year highs for the past three days. The index is set for a 6.3% gain this week, the largest weekly gain since the week ended March 18, 2022, according to FactSet. Nomura forecasts the Nikkei to trade in a 33000-37000 range for January-March, the brokerage’s analysts said in a research note.