Japan’s stock markets have been testing new highs not seen since 1990 — evoking memories of its “bubble economy” right before the country plunged into its so-called “lost decade.”
Since late May, the Nikkei 225 has breached the 30,000 mark, a feat not seen in 33 years.
To be clear, the benchmark index is still about 18% below its all-time high, when the Nikkei hit 38,915 on Dec. 29, 1989.
The bubble burst after the Bank of Japan tightened monetary policy at the start of 1990, triggering the collapse of equity and land prices. By September that year, the Nikkei index crashed to just half its record high.
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