Japan’s Nikkei 225 just closed at the highest level in decades

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Japan’s Nikkei 225 share index surged on Friday, closing at the highest level since November 1991.

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Nikkei 225 Monthly Chart Investing.com

Along with modest gains in European and US markets on Thursday, stocks were undoubtedly helped by continued weakness in the Japanese yen which hit the lowest level against the greenback since December 2017.

The USD/JPY has rallied 8.6% since late March, including 3.5% in the past month.

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USD/JPY Daily Chart Investing.com

Quarter-end window dressing may has also contributed to today’s gains.

Like the Nikkei, it’s also been a good day for stocks across the Asian region with all major markets except for South Korea closing or trading higher in late trade.

Australia ASX 200 6207.60 , 0.43%
NZ NZX 50 9351.06 , 0.70%
Japan TOPIX 1817.25 , 0.95%
Shanghai Comp 2811.59 , 0.71%
Shenzhen Comp 1436.16 , 0.46%
HK Hang Seng 27741.35 , 0.09%
Sth Korea KOSPI 2343.07 , -0.52%
Sinagpore STI 3256.13 , 0.61%
India Nifty 50 11022.95 , 0.41%
S&P 500 Futures 2920.25 , 0.01%