Japan's Stock Market Rebounds Under Abenomics
After a gargantuan, four-decade bull market, Japan’s Nikkei 225 index blasted to an all-time closing high of 38,916 on Dec. 29, 1989. Japan had grown into an economic powerhouse, flooding world markets, including the U.S., with high-quality automobiles, electronics and other manufactured goods.
Then came the deluge. The Japanese stock market tumbled over the next two decades, finally hitting bottom in March 2009 at a shade above 7,000—a stunning decline of 82%. Rallies during that terrible bear market all flamed out. But the outlook for Japan’s stock market is brightening.