Japan’s benchmark Nikkei 225 stock index is on track for a record year-end close, finally surpassing a mark reached 35 years ago during the country’s 1980s economic bubble.
The index closed the year’s penultimate trading session on Friday 1.8 per cent higher at 40,281 points, with gains led by Toyota, Sony and Uniqlo parent Fast Retailing. Japan’s final trading session of the year is on Monday.
Takeo Kamai, head of execution services at CLSA Securities in Tokyo, said the market had been boosted by a “Santa rally” of dealmaking news and the prospect that Japan’s corporate giants would act more in line with investor interests.
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