Thanks for joining me. Japan’s Nikkei broke a record high last set in 1989 after blockbuster results from US chip giant Nvidia fuelled AI stocks mania.
The Nikkei 225 closed 2.2pc higher to end at 39,098.68, breaking a record last set before the country’s financial bubble burst 35 years ago.
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What happened overnight
Japan’s benchmark Nikkei 225 index surged Thursday past the record it set in 1989 before its financial bubble burst, ushering in an era of faltering growth.
The index closed Thursday at 39,098.68, up 2.2pc. It had been hovering for weeks near 34-year highs. Its previous record was 38,915.87, set on December 29, 1989.
That was more than a generation ago at the height of Japan’s post-war boom.
Elsewhere, Hong Kong and Shanghai stocks were trading higher, as were Seoul, Taipei, Bangkok, Manila and Wellington. Sydney was flat.
In America, the S&P 500 rose 0.1pc, to 4,981.80. The benchmark index spent much of the day in losing territory before climbing higher just before markets closed.
The Dow Jones Industrial Average of 30 top American companies also eked out a slight gain after losing ground most of the day. It rose 0.1pc, to 38,612.24. Meanwhile, the technology-heavy Nasdaq Composite index fell 0.3pc, to 15,580.87.
Yields in US Treasury bonds rose on Wednesday after minutes from the Federal Reserve’s last meeting showed concerns about cutting interest rates too soon. The yield on benchmark 10-year Treasury bonds rose to 4.33pc from 4.28pc late on Tuesday.
