Nikkei 225 reopens and sets a new record

The Japanese stock markets were closed on Friday for the Emperors Day holiday. The reopening today has seen the Nikkei 225 index rise to a new all time record high, at 39,338. That new record seems to once again replicate what we saw at the end of last week in the US and continue to defy the Chinese markets, which are all lower so far today. The records in the Nikkei have helped to maintain the USD/JPY above 150, but more on that in another update. The reader is reminded that the next BOJ policy meeting will not take place until March 19. Meanwhile, it looks like only a case of time before the Nikkei 225 will have a closer look at the 40k handle.