On Friday’s last trading day of the year, Tokyo stocks finished with a mixed performance, while the Nikkei stock index, considered the benchmark, finished at its highest level since 1989. Mixed Tokyo stocks end with Nikkei at its highest year-end since 1989.
The Nikkei Stock Average comprised 225 different issues, fell by 75.45 points, or 0.22 percent, from Thursday’s closing price of 33,464.17. However, it finished at its best year-end since 1989, increasing by 28 percent from the previous year.
On the other hand, the more comprehensive Topix index concluded the day 4.37 points, or 0.19 percent, higher at 2,366.39.
In anticipation of the New Year holidays and the end of the year, trading was relatively quiet throughout the day. This is because Japanese financial markets will be closed from Saturday through Wednesday for the vacations associated with the New Year.
As the yen’s weakness against the United States dollar helped increase firm earnings on the back of an economic recovery from the COVID-19 pandemic, analysts suggested that the Nikkei began 2023 at roughly 26,000 and reached a peak above 33,700 in July. This occurred as the Nikkei achieved its highest point in July.
The mining and marine transportation industries were the primary contributors to the declines on the top-tier Prime Market. In contrast, the transportation equipment and insurance shares were the primary contributors to the improvements.