Tokyo's Nikkei tops 70,000 for first time in historic milestone

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Tokyo: On Tuesday, Japan's benchmark Nikkei stock index reached 70,000 points for the first time, boosted by robust investor confidence and continuing growth in key technology and export-oriented businesses.

The growth has been fuelled by strong corporate earnings, a less expensive yen that improves export profits, and strong foreign investment in Japanese equities. Market participants have also supported continuing corporate governance reforms aimed at raising shareholder returns.

According to analysts, the Nikkei's historic performance has been extended by increased demand for Japanese stocks due to confidence over global economic growth and advancements in artificial intelligence-related areas.

In recent years, the Nikkei, which measures 225 top businesses listed on the Tokyo Stock Exchange, has been one of the most successful main averages globally, indicating a resurgence of confidence in Japan's economic prospects.