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Japan's Nikkei 225 closed above 20000 for the first time in 15 years

Apr 24, 2015 15:20 IST

Japan’s main stock market index Nikkei 225 on 21 April 2015 closed above the 20000 level for the first time in 15 years. The index surged by just over 15% in 2015, building on an incredible 140% boom since June 2012.

The index performance improved against the background of central bank of Japan pumping money into the economy at a rapid pace, and Prime Minister Shinzo Abe pledging to reform the way Japan Inc. does business.

Also, stocks rallied as the country logged a trade surplus in March 2015 after the weaker Japanese Yen boosted exports and cheaper oil prices lowered its import bill.

The prime minister's ambitious plan for Japan's economy -- dubbed Abenomics -- also helped end deflation, boost corporate earnings and send stock prices through the roof.

Most recently, Abe has been lobbying to get companies to raise worker wages. The idea is that workers will then increase spending; completing a so-called virtuous cycle that will deliver sustained economic growth across the nation.

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