Japan’s Nikkei 225 Stock Average reached a significant milestone on Monday, surpassing the 40,000 mark and setting a new record high. This achievement came after the S&P 500 and the Nasdaq Composite also reached fresh all-time highs on Friday, indicating a positive trend in global markets.
The broader Topix index also experienced gains, rising 0.2% and breaching the 2,700 mark to reach a new peak. This further demonstrates the overall strength of the Japanese stock market.
Investors are closely monitoring the “Two Sessions” meetings taking place in China. The CSI 300 initially opened higher but later edged 0.1% lower. The “Two Sessions” refers to the concurrent annual meetings of China’s legislature, the National People’s Congress, and the country’s top political advisory body, the Chinese People’s Political Consultative Conference. During these meetings, China’s Premier Li Qiang is expected to deliver the government’s work report, which outlines economic and policy goals for the world’s second-largest economy, including its GDP growth target.
In South Korea, the Kospi index rose by 1.2%, while the small-cap Kosdaq saw a 0.9% increase. Korean markets resumed trading after a long weekend, and the positive performance indicates a favorable sentiment among investors.
Meanwhile, Australia’s S&P/ASX 200 remained relatively flat after reaching an all-time closing high of 7,745.6 on Friday. This stability suggests that the Australian market is holding steady despite recent record-breaking highs.
Turning to the commodities market, oil prices experienced a slight increase. West Texas Intermediate crude prices briefly surpassed the $80 mark for the first time in four months. This rise can be attributed to major oil producers such as Saudi Arabia, Russia, and other key OPEC+ members announcing an extension of voluntary crude supply cuts until the end of the second quarter. This decision indicates a concerted effort to stabilize oil prices and maintain market equilibrium.
In the United States, the tech-heavy Nasdaq Composite advanced by 1.14% to reach 16,274.94 on Friday. This marked a new high during the session and the first record since November 2021. The S&P 500 also performed well, adding 0.80% to close above the 5,100 threshold for the first time. The Dow Jones Industrial Average gained 0.23%, contributing to the positive sentiment in the U.S. stock market.
Overall, the global markets are showing signs of strength and resilience. The record-breaking performance of Japan’s Nikkei 225, along with the positive movements in other major indices, indicates a favorable outlook for investors. As economic and policy goals are outlined during China’s “Two Sessions” meetings, it will be interesting to see how these developments impact the global market landscape.