The Nikkei 225 on Monday rallied to yet another 33-year high, advancing amid the Tokyo Stock Exchange publishing a list of companies that have taken actions to bolster their share price.
The Nikkei 225
JP:NIK
gained 0.9% to 35,901.79, stretching year-to-date gains to 7%, one of the best performing stock markets in the world in the new year.
The yen’s weakness against the dollar has helped fueled the gains, and the iShares MSCI Japan ETF
EWJ
is up only 4% this year. The S&P 500
SPX
has been basically flat this year.
But the index’s gain also has come among a more concerted corporate governance effort in Japan, that has helped fuel bullishness on Wall Street from firms including Morgan Stanley.
On Monday, the Tokyo Stock Exchange published a list of companies that have disclosed information regarding action taken that is “conscious of cost of capital and stock price.” It had requested such action last March.
U.S. markets are shut on Monday in observance of the Martin Luther King Jr. federal holiday.
