Nikkei Rises 19% In 2024, Highest Year-End Finish On Record

The Nikkei stock index ended the final trading day of 2024 on a down note.

The index closed at a record high on the back of strong corporate earnings and a weaker yen I Photo: DocChewbacca Flickr

However, for the year, it rose 19% from 2023, closing at a record high due to strong corporate earnings and a weaker yen, which boosted export-oriented stocks, Kyodo News reported.

The 225-issue Nikkei Stock Average closed down 386.62 points, or 0.96%, from Friday, at 39,894.54.

The broader Topix index ended 16.76 points, or 0.60%, lower at 2,784.92. Japanese financial markets closed from Tuesday through Sunday for the New Year holidays, according to Mainichi Japan.

The U.S. dollar remained firm, trading mostly in the upper 157 yen range on speculation that the interest rate differential between the U.S. and Japan would remain wide after U.S. Treasury yields rose on Friday, dealers said.

At 5 p.m., the dollar was quoted at 157.88-90 yen compared with 157.79-89 yen in New York and 157.81-83 yen in Tokyo on Friday. The euro was quoted at $1.0425-0427 and 164.60-64 yen against $1.0427-0437 and 164.62-72 yen in New York and $1.0421-0423 and 164.46-50 yen in Tokyo late Friday.