The Nikkei 225 passed 30,000 on Monday, the first time in over three decades that Japan’s blue-chip stock market index crossed that threshold. The long-awaited event was spurred by a series of positive news reports, and most analysts believe that more gains are in the offing.
But we should not kid ourselves: The market rebound is bound to fade as structural issues reassert themselves. A strong stock market is good for Japan, but more important is the health of the overall economy. That remains in doubt.