Japan’s Nikkei stock index reached an all-time high following a rally on Wall Street and bets on a snap election. The index surged 1.3% to 30,246.92, breaking the previous record set in 1989. Investors are optimistic about the global economic recovery and Japan’s political stability.

The Nikkei’s record high comes as Japan’s Prime Minister Yoshihide Suga faces pressure to call a snap election. Speculation about a potential election has been fueling market excitement. Suga’s approval ratings have been declining due to his government’s handling of the COVID-19 pandemic and slow vaccine rollout.

Investors are closely monitoring the political situation in Japan as a snap election could lead to changes in economic policies and impact market sentiment. The Nikkei’s performance is seen as a reflection of investor confidence in Japan’s economic prospects and political stability. The index’s record high is a positive sign for the country’s stock market and economy.

The Nikkei’s strong performance is also driven by optimism about corporate earnings and Japan’s economic recovery. Companies in sectors such as technology, healthcare, and export industries are expected to benefit from improving global demand and economic conditions. Investors are optimistic about the growth potential of Japanese companies and the overall economy.

Read more at Investing.com: Japan’s Nikkei hits all-time high on Wall Street rally, snap election bets