<p>Tradingkey - 在本周五收盘时，日经 225 指数（Nikkei 225）小幅上涨 0.36%，收于 58,850 点，创下历史新高。整周来看，该指数累计上涨 3.56%，单周上涨超过 2,000 点。更引人注目的是其年初至今的表现；仅在两个月内，涨幅已达到 16.91%，延续了 2025 年的爆发性牛市。</p>
<p>本周日经 225 指数的上涨受到多重因素的推动，其中日本货币政策的鸽派转变是核心催化剂。</p>
<p>本周，日本政府提名了两位&#34;再通胀主义&#34;学者进入日本银行政策委员会；他们支持低利率、日元贬值和进一步的经济刺激措施，这缓解了市场对进一步加息的担忧。</p>
<p>此外，日本首相高市早苗承诺实施财政扩张和减税。宽松的货币和财政环境为股市释放了更多流动性，为指数的上涨提供了强有力的支持。</p>
<p>在主要权重股的表现方面，科技巨头软银集团本周一度上涨超过 4%，受到英伟达强劲财报和人工智能行业增长前景的积极情绪提振。索尼集团的股价在将股票回购计划从 1500 亿日元扩大至 2500 亿日元后飙升 7.2%，突显市场对其企业价值提升措施的认可。</p>
<p>与市场整体表现相比，芯片相关股票表现不佳；英伟达供应商 Advantest 本周五下跌 4.5%，DISCO 在周初表现强劲，但临近周末的调整幅度较大，周五收盘下跌约 4.5%，周四录得 1.2% 的下跌。DISCO 的估值此前已处于历史高位。随着市场对日本银行加息预期的加剧，这类高市盈率的成长股首当其冲面临估值调整压力。</p>
<p>值得注意的是，日经 225 指数在过去 12 个月中上涨超过 53%，仅在 2 月份就上涨了 10.37%，显示出强劲的动能。然而，投资者应保持谨慎；该指数连续创下历史新高已积累了获利回吐压力，全球科技股的波动以及日本货币政策预期的变化可能会引发短期调整。</p>
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1330

索尼

1369

软银

2 倍做空日圓 ETF - ProShares

<p>日经 225 指数收于 58,850 点，创下历史新高，本周上涨 3.56%，年初至今上涨 16.91%。这一激增归因于日本货币政策的鸽派转变以及政府对财政扩张的承诺。软银和索尼等关键股票大幅上涨，而一些与芯片相关的股票则面临调整。尽管表现强劲，投资者仍被建议对获利回吐压力和市场潜在波动保持谨慎</p>

<p>Tradingkey - At this Friday's close, the Nikkei 225 Index (Nikkei 225) rose slightly by 0.36% to close at 58,850 points, hitting a new all-time high. Over the full week, the index gained 3.56% cumulatively, an increase of over 2,000 points in a single week. More striking is its performance year-to-date; in just two months, the gain has reached 16.91%, extending the explosive bull market of 2025.</p>
<div class="lb-trans"><p>Tradingkey - 在本周五收盘时，日经 225 指数（Nikkei 225）小幅上涨 0.36%，收于 58,850 点，创下历史新高。整周来看，该指数累计上涨 3.56%，单周上涨超过 2,000 点。更引人注目的是其年初至今的表现；仅在两个月内，涨幅已达到 16.91%，延续了 2025 年的爆发性牛市。</p>
</div><p>The Nikkei 225's advance this week was driven by multiple factors, with the dovish shift in Japanese monetary policy serving as the core catalyst.</p>
<div class="lb-trans"><p>本周日经 225 指数的上涨受到多重因素的推动，其中日本货币政策的鸽派转变是核心催化剂。</p>
</div><p>This week, the Japanese government nominated two &#34;reflationist&#34; scholars to the Bank of Japan Policy Board; they support low interest rates, yen depreciation, and further economic stimulus measures, which eased market concerns regarding further interest rate hikes.</p>
<div class="lb-trans"><p>本周，日本政府提名了两位&#34;再通胀主义&#34;学者进入日本银行政策委员会；他们支持低利率、日元贬值和进一步的经济刺激措施，这缓解了市场对进一步加息的担忧。</p>
</div><p>In addition, Japanese Prime Minister Sanae Takaichi pledged to implement fiscal expansion and tax cuts. The loose monetary and fiscal environment released more liquidity into the stock market, providing strong support for the index's climb.</p>
<div class="lb-trans"><p>此外，日本首相高市早苗承诺实施财政扩张和减税。宽松的货币和财政环境为股市释放了更多流动性，为指数的上涨提供了强有力的支持。</p>
</div><p>Regarding the performance of key heavyweights, tech giant SoftBank Group rose by over 4% at one point this week, buoyed by the positive sentiment from Nvidia's strong earnings and the growth prospects of the AI industry. Sony Group's stock price surged 7.2% after expanding its share buyback program from 150 billion yen to 250 billion yen, highlighting market recognition of its corporate value enhancement measures.</p>
<div class="lb-trans"><p>在主要权重股的表现方面，科技巨头软银集团本周一度上涨超过 4%，受到英伟达强劲财报和人工智能行业增长前景的积极情绪提振。索尼集团的股价在将股票回购计划从 1500 亿日元扩大至 2500 亿日元后飙升 7.2%，突显市场对其企业价值提升措施的认可。</p>
</div><p>Chip-related stocks underperformed the broader market; Nvidia supplier Advantest fell 4.5% this Friday, DISCO performed strongly early in the week, but the correction toward the weekend was severe, with the stock closing down about 4.5% on Friday and recording a 1.2% decline on Thursday. DISCO's valuation had previously been at historical highs. As expectations for Bank of Japan rate hikes intensified, such high-P/E growth stocks were the first to face valuation correction pressure.</p>
<div class="lb-trans"><p>与市场整体表现相比，芯片相关股票表现不佳；英伟达供应商 Advantest 本周五下跌 4.5%，DISCO 在周初表现强劲，但临近周末的调整幅度较大，周五收盘下跌约 4.5%，周四录得 1.2% 的下跌。DISCO 的估值此前已处于历史高位。随着市场对日本银行加息预期的加剧，这类高市盈率的成长股首当其冲面临估值调整压力。</p>
</div><p>Notably, the Nikkei 225 Index has gained more than 53% over the past 12 months, with a 10.37% rise in February alone, demonstrating strong momentum. However, investors should remain cautious; the index's continuous streak of record highs has accumulated profit-taking pressure, and volatility in global tech stocks along with changes in Japanese monetary policy expectations could trigger short-term corrections.</p>
<div class="lb-trans"><p>值得注意的是，日经 225 指数在过去 12 个月中上涨超过 53%，仅在 2 月份就上涨了 10.37%，显示出强劲的动能。然而，投资者应保持谨慎；该指数连续创下历史新高已积累了获利回吐压力，全球科技股的波动以及日本货币政策预期的变化可能会引发短期调整。</p>
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日经 225 指数创下历史新高，本周上涨超过 2000 点；日本股市的 “黄金时代” 是否会在 2026 年延续？