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It took more than 30 years for the Japanese stock benchmark to surpass its previous record high.

RYUSHIRO KODAIRA, Nikkei senior staff writer

February 23, 2024 06:29 JST

TOKYO -- The market rejoiced as the Nikkei Stock Average surpassed Thursday the all-time high it had reached at the height of Japan's asset bubble in December 1989.

As pundits ponder what has changed during the long 34-year wait -- often described as the "lost" decades -- it is clear that this market milestone marks not a goal itself, but a new beginning.