TOKYO (Pakistan Point News / Sputnik - 17th November, 2020) The Nikkei index, which reflects stock market performance of 225 leading Japanese companies, on Tuesday surpassed the 26,000-point threshold for the first time in almost 30 years, amid positive reports about potential vaccines against the coronavirus disease.
The last time the average hit all-time high was in 1991 when the country's economy was at its peak followed by an economic downturn caused by the bust of the real estate bubble.
The Tokyo Stock Exchange followed ion the heels of the� New York Stock Exchange, which jumped by 470.63 points to record 29,950.44 in the wake of early reports about successful phase 3 trials of COVID-19 vaccine candidates.
On Monday, US biotechnology company Moderna announced that its mRNA-based candidate vaccine against COVID-19 had proven to be 94.5 percent effective in phase 3 clinical trials. This follows an earlier announcement by Pfizer and BioNTech about their vaccine being more than 90 percent effective in preventing COVID-19.
