When the 225-issue Nikkei average rallied to a three-decade high earlier this year, some saw its all-time record as finally in sight.
These days, with the gauge having lost steam over the past month, those dreams are looking a little distant. Despite a 2.1% gain on Thursday, the blue-chip index still trades nearly 5% below its February high, with many seeing it remain stagnant in the same range through coming months.
A sell-off through Wednesday was triggered by a number of factors. The government is set to declare another state of emergency amid a surge in COVID-19 cases, while the country lags behind other major economies in its distribution of vaccines.