A stellar year for Japanese stocks after recovering strongly from the dip during the virus crisis back in March
The Nikkei is closing at its highest levels since 1990 despite a bit of a pullback today, finishing the year at 27,444.17 (Japanese markets are closed until the new year).
It has been a stellar rebound since the dip in March, which saw price fall to test its 100-month moving average (red line) at the time.
But with global central banks flooding the market with liquidity and the BOJ bolstering ETF purchases, the Nikkei has bounced back tremendously.
As Japanese stocks look towards the new year, they will be trading at their highest levels in three decades amid a 16% gain in the Nikkei this year.
And with the above central bank narratives set to continue to play out alongside hopes of a global economic recovery, it could prove tough to bet on further gains in the equities space in 2021. 30,000 seems like a question of when rather than if now.
