Nikkei heads for best year-end close since 1980s bubble [Financial Post (Toronto, Ontario, Canada)]
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Source: Financial Post
The benchmark slipped 0.07% to 28,794.24 by the midday break, with about 12 stocks declining for every one that rose in holiday-thinned trading, despite the tailwind from a record-high Wall Street close overnight. Best Boxing Day deals on Amazon Canada 2021 Advertisement The Nikkei was still on track for its best year-end finish since 1989, when the stock market closed at a record level before collapsing months later, ushering in a “lost decade,” a banking crisis and years of deflation and weak domestic demand from which Japan has yet to recover. Advertisement Article content The index has rallied about 5% this year, driven by fiscal and monetary stimulus as well as optimism for a post-pandemic economic recovery that has lifted stocks to records globally this year. The broader Topix was slightly higher at the break, up 0.05% at 2,000.05, which would also be the highest year-end close since 1989, following an almost 11% rally this year. On the Nikkei, every sector was
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