LoginStocks on the Japanese Nikkei leapt up to close above 14,000 on May 8, 2013, giving the stock market its highest closing since June of 2008, reports CNBC. The rally on the Nikkei was powered by expectations that the nation's central bank would continue monetary easing policies that have already pushed the value of the yen down 15 percent against the dollar since the beginning of 2013.
The yen was valued at 99 to one against the U.S. dollar as the Nikkei rallied, and is expected to continue to decline in value 110 to one by the end of the year.
"We have seen the Nikkei moving higher and the question now is who is a believer and who is a disbeliever," said Financial Alliance's Sani Hamid, director, according to CNBC. "It is a good time to pick up the Nikkei but we also have to be cautious if the yen fall stalls."
Though the Nikkei was the strongest Asian stock-market in early May 2013, it was not the only one demonstrating growth. China's benchmark index grew a slight 0.2 percent in May 8, pulled down by declines in financial stocks. However, exports were up 14.7 percent in April 2013 over April 2012 on a year-to-year basis, while imports surged 16.8 percent during the same time period. China's trade surplus was left at $18.2 billion, higher than the projected surplus of $15.1 billion.