The Nikkei 225 stock index passed the 37,000-point line for the first time in 34 years on Friday, bringing the Japanese index closer to surpassing its all-time high set in 1989.
Brokers in Tokyo said that a number of factors, including the weak yen and expectations that domestic retail investors might start buying Japanese equities in larger volumes, were playing into the ongoing surge in the Nikkei, which has risen 11.7 per cent since the start of 2024.
The broader Topix index also rose, hitting its own 34-year high of 2,576 points as a run of strong company results led by SoftBank and other tech companies buoyed market confidence.
The yen, whose weakness is a boon to many Japanese companies, continued to slide against the dollar on Friday.
