Nikkei 225 Surges Near 20% Yearly, Logs Best Year Since 1989
The Nikkei 225 dipped 383 points or near 1% to end at 39,894 on the last trading day of 2024, snapping two-day gains amid some profit-taking after the index hit a five-month peak last week.
Investors seemed unsettled as they could not find clear reasons for the Nikkei to cross the 40,000 level. The biggest percentage loser on the index was Nissan Motor, slipping by 6.4%. Meanwhile, chip-testing equipment maker Advantest was down by 2.5%. Makino Milling Machine's shares were untraded after a surprise unsolicited takeover bid by Japanese manufacturing giant Nidec.
Nevertheless, markets jumped 4.4% for the month, bringing an almost 20% jump for the full 2024, the best year since 1989, buoyed by strong corporate earnings and a weaker yen boosting export-oriented sectors. Meanwhile, the broader index fell 0.6% but logged gains of 3.8% for the month and 17.6% for the year. The Japanese markets will resume activity on January 6 after closing for the New Year holidays from the next session.
Source : Trading Economics
