Nikkei surpasses the threshold of 36,000 points, the highest level in 34 years

On Monday, the Japanese benchmark index, the Nikkei, surpassed the 36,000-point level for the first time in 34 years, driven by the rise in shipping and financial company stocks, as well as the decrease in US Treasury bond yields and the stability of the yen exchange rate, which boosted morale.

The Nikkei rose by approximately one percent to 35,901.73 points at the close, after reaching its highest level since February 1990 at 36,008.23 points.

Value stocks outperformed growth stocks after last week’s decline in growth stocks, with the Nikkei recording its best performance in 22 months.

The Topix index climbed 1.22 percent during the day and also reached its highest level in 34 years during the session.

The shipping companies’ index on the Tokyo Stock Exchange soared by 5.3%, leading the gains among 33 industry indices, due to geopolitical risks that have caused shipping prices to rise.

The shares of financial companies, which had sharply declined on Friday, rebounded strongly. The stock index of Tokyo Stock Exchange rose by 4.56 percent, and the banking index increased by 2.19 percent.