Japanese stocks have been stuck for about eight months, languishing below all-time highs hit in July last year and failing to convincingly break the curse of the ’80s.
“Broadly speaking, concerns about tariffs and expectations for a rate increase by the Bank of Japan seem to be weighing on stock prices,” said Nozomi Moriya, an equity strategist for Japan at UBS Securities.
The 225-issue Nikkei average broke the previous high of 38,915.87 — set in 1989 — on Feb. 22, 2024 and then made its way as far as 42,426.77 in July, before falling back and settling range-bound between about 38,000 and 40,000.
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