Japan’s Stock Market Begins 2024 with a Surge, Amid Hopes for a ‘Soaring Dragon’ Year

Published on January 18, 2024

The Year of the Dragon got off to a dramatic start for Japan with the magnitude 7.6 Noto earthquake on Jan. 1 and a fiery plane collision on Jan. 2 at Haneda Airport. Despite these adversities, the Japanese stock market has demonstrated remarkable resilience, starting the year on a strong note. On Jan. 12, the Nikkei Stock Average reached an impressive 35,577 yen, marking a historic peak not seen since the aftermath of its economic bubble. The surge has ignited investor optimism, with many anticipating a “soaring dragon” trend in the stock market for the dragon year. In the Japanese financial lexicon, the phrase “Tatsumi ceiling” is often used, where “Tatsumi” symbolizes the dragon and snake years and “ceiling” denotes high prices in the market. This dragon year, investors seem confident that stock prices will emulate the rising dragon, heralding a period of prosperity that will extend into 2025’s year of the snake....

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