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Global investors seeking stability send Japan stocks to 20-month high

Nikkei average back above 30,000 on steady economy, monetary outlook

The Nikkei Stock Average broke 30,000 on Wednesday for the first time since September 2021. (Photo by Tomoki Mera)

TOKYO -- The rally that lifted the Nikkei Stock Average past 30,000 for the first time since 2021 on Wednesday has been fueled by foreign investors seeking a stable safe haven in an uncertain economic environment.

American stock investors are grappling with the question of where to put their money. The Federal Reserve's continued monetary tightening has heightened the risk of a credit crunch, and the odds of a "soft landing" -- controlling inflation without triggering a recession -- are looking worse.

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