Can Japan’s stock market scale new highs?

THIS has been a monumental year for Japan.

For the first time in 17 years, the Bank of Japan (BOJ) raised its key interest rate from minus 0.1 per cent to between 0 and 0.1 per cent, closing the chapter on its negative-interest-rate policy.

At the same time, the Japanese equity market has continued its record-setting streak. On Mar 22, the Nikkei 225 Index closed at a new all-time high of 40,888.43, surpassing its previous peak of 38,915.87 in December 1989.