Japan’s Nikkei joins Wall Street in uncharted territory as it hits record highs

The new record moved past the index’s previous 1989 peak

With the pace of the market’s rally catching some by surprise, strategists raised their forecasts for the Nikkei. Picture: Philip Fong/Getty Images

Japan’s Nikkei 225 Stock Average reached a record high, pushing past a 35-year-old peak.

The blue-chip gauge surged 2.2 per cent to close at 39,098.68, above its past peak formed in 1989, on the back of a rally in technology shares such as Screen Holdings and chipmaking gear producer Tokyo Electron after robust earnings from Nvidia.

In doing so, the index joined Wall Street stocks in pushing into uncharted territory.

Global funds are pouring into ...