Nikkei hits 29,000 for first time since 1990

Baku, February 8, AZERTAC

Tokyo's benchmark stock index reached its highest level in more than 30 years on Monday, according to NHK WORLD-JAPAN. Investors snapped up shares on hopes that proposed additional US economic stimulus will lead to a global economic recovery from the impact of COVID-19.

The Nikkei Average ended the day's session at 29,388, up 2.1 percent from Friday's close. It's the first time that the index has risen above the 29,000-mark since August 1990.

The benchmark has gained more than 6 percent so far this month.

Analysts say market participants reacted favorably to robust financial results posted by Japanese companies.

Traders also welcomed progress in vaccination programs in the United States and Britain.

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