Japan's Nikkei index revisits levels last seen in 1989 as corporate reforms lure foreign money

Japan's Nikkei index revisits levels last seen in 1989 as corporate reforms lure foreign money

People using their smartphones take photos of electronic screens displaying Japan's Nikkei share average, which surged past an all-time record high scaled in December 1989, outside a brokerage in Tokyo, Japan February 22, 2024. REUTERS/Issei Kato

Japanese stocks raced to a record peak on Thursday, breaking levels last seen in 1989 during the halcyon days of the bubble economy, as cheap valuations and corporate reforms lure foreign money looking for alternatives to battered Chinese markets.