Posted on Sep 14, 2021, 11:45 AMUpdated Sep 14, 2021, 1:24 PM
It was the start of the Gulf War. Jean-Paul Rappeneau’s Cyrano de Bergerac was still showing. And Japanese traders believed they would soon be out of their stock market crash that began six months earlier. After peaking at 38,976 points at the end of 1989, the Nikkei 225 was preparing to fall below 30,000 points and continue its long descent into financial hell. Thirty-one years later, the Tokyo Stock Exchange has, for the first time, regained its “bubble” levels of the late 1980s and early 1990s, closing Tuesday up 0.73%, at 30,562.42 points.
Despite concerns about the Chinese economy and the laborious way out of the health crisis in Southeast Asian countries, local investors, comforted by the gains on Monday of the major American indices, continue to bet on an imminent improvement results of large Japanese groups.