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Japan's Nikkei 225 surpasses 40,000 for the first time while China gets ready to unveil GDP target

·1 min

Asian markets started the week positively, with Japan’s Nikkei 225 index surpassing 40,000 for the first time. This follows a strong rally driven by factors such as robust corporate earnings, a weaker yen benefiting exporters, and foreign investors seeking alternatives to China’s markets. Jefferies analysts forecast that Japan will be among the top performing markets over the next decade. The Nikkei has gained over 20% this year, outperforming major global equity indexes. Taiwan’s stock market also rose to record highs, propelled by semiconductor stocks and Taiwan Semiconductor Manufacturing Company. South Korea’s Kospi advanced, while Hong Kong’s Hang Seng declined. Chinese stocks traded cautiously higher ahead of the National People’s Congress, where Premier Li Qiang will announce China’s 2024 growth target and potential stimulus measures.