Nikkei tops late '80s peak, but is a bubble forming? – The Japan Times
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The 225-issue Nikkei average finally topped an all-time high that was recorded at the height of the economic bubble era in 1989 after stocks surged during Thursday's trading session, even breaching the 39,000 level for the first time.
The benchmark index rose sharply after markets opened to reach the 39,000 mark, surpassing 1989's 38,915.87. The index closed at 39,098.68, up by 836.52 points from the previous day.
Strong earnings results from major U.S. chip firm Nvidia helped to buoy semiconductor- and artificial intelligence-related shares, such as Tokyo Electron and SoftBank Group, which have also been the driving forces for the Nikkei index since January.
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