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Nikkei breaks 14,000 barrier for first time in 5 years

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Nikkei breaks 14,000 barrier for first time in 5 years

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The Nikkei stockmarket index in Japan has surged above 14,000 for the first time since 2008.

It is in response to the central bank’s agressive doubling of the money supply to spur growth and kill off years of economic stagnation. Markets were also reacting to a cut in European interest rates last week.

The yen has also weakened further, helping exporters, and boosting the bottom line when they repatriate profits back home. The yen is steadily creeping towards 99 yen to the dollar.