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In Japan: FOMO
"Healthy." That was one adjective bandied about Thursday, when the meteoric rally in Japanese equities finally pushed the Nikkei 225 beyond its late-1989 highs to a new record.
The stock gains are "healthy," that's for sure. Healthy, hefty, huge and inexorable. Japanese shares are up some 18% this year alone, easily outpacing other major markets and benchmarks. Indeed, local blue chips are trouncing the Nasdaq 100 in 2024 (albeit not Nvidia). If you measure from the pandemic lows in late March
Japan will likely benefit from Taiwan moving business partnerships/factories from China to Japan.
https://money.usnews.com/investing/news/articles/2024-02-21/taiwan-chip-firms-flock-to-japan-as-china-decoupling-accelerates
I wonder what Rockefeller Center sells for these days.
They say no one rings a bell at the top, but this came pretty darn close for the 1989 Japanese real estate bubble.
https://www.nytimes.com/1989/10/31/business/japanese-buy-new-york-cachet-with-deal-for-rockefeller-center.html