Japanese stock rally gives hope for end to lost decades

With U.S. stocks continuing their headline-grabbing rally, it might be easy to overlook other records being set elsewhere in the world. But one in particular is worthy of notice right now. On Thursday, Japan’s Nikkei 225 index closed at nearly 21,000. Unlike the Dow or the S&P 500, that’s far off the Nikkei’s all-time high of almost 39,000 during the bubble of the 1980s; in many ways, Japan’s economy, and its markets, have yet to recover from that bubble bursting in 1989. But the...

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