Japan’s Nikkei posts biggest point gain on record for fiscal year

By Thomson Reuters Mar 29, 2024 | 1:08 AM

TOKYO (Reuters) – Japan’s Nikkei share average logged the biggest rise ever on an absolute basis for the fiscal year ended on Friday, rallying 12,328 points.

The index hit successive record highs this quarter, after breaking levels on Feb. 22 that were last seen in 1989 during the nation’s bubble economy.

The rally was supported by better corporate governance, foreign buying on a weaker yen and expectations that the Bank of Japan will stick with loose monetary policy.

(Reporting by Junko Fujita; Editing by Kim Coghill)