Japan’s Nikkei index heads for best year-end close since 1989

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Financial Times 1d ago

Japan’s Nikkei index heads for best year-end close since 1989 - Financial Times

Quick Summary:

Since the start of 2024, individuals have been allowed to park more of their savings in Nippon individual savings accounts, which offer long-term tax protection and have proved more attractive than analysts expected.

Foreigners were net sellers in 2024 of about $32bn of cash stocks and futures, mostly in the second half of the year, according to the operator of the Tokyo Stock Exchange.

Analysts said this year’s rally was all the more surprising because it was not propelled by foreign investors, historically the biggest deciding factor in the momentum of Japanese stocks.