<p>Tradingkey - 在本週五收盤時，日經 225 指數（Nikkei 225）小幅上漲 0.36%，收於 58,850 點，創下歷史新高。整週來看，該指數累計上漲 3.56%，單週上漲超過 2,000 點。更引人注目的是其年初至今的表現；僅在兩個月內，漲幅已達到 16.91%，延續了 2025 年的爆發性牛市。</p>
<p>本週日經 225 指數的上漲受到多重因素的推動，其中日本貨幣政策的鴿派轉變是核心催化劑。</p>
<p>本週，日本政府提名了兩位&#34;再通脹主義&#34;學者進入日本銀行政策委員會；他們支持低利率、日元貶值和進一步的經濟刺激措施，這緩解了市場對進一步加息的擔憂。</p>
<p>此外，日本首相高市早苗承諾實施財政擴張和減税。寬鬆的貨幣和財政環境為股市釋放了更多流動性，為指數的上漲提供了強有力的支持。</p>
<p>在主要權重股的表現方面，科技巨頭軟銀集團本週一度上漲超過 4%，受到英偉達強勁財報和人工智能行業增長前景的積極情緒提振。索尼集團的股價在將股票回購計劃從 1500 億日元擴大至 2500 億日元后飆升 7.2%，突顯市場對其企業價值提升措施的認可。</p>
<p>與市場整體表現相比，芯片相關股票表現不佳；英偉達供應商 Advantest 本週五下跌 4.5%，DISCO 在周初表現強勁，但臨近週末的調整幅度較大，週五收盤下跌約 4.5%，週四錄得 1.2% 的下跌。DISCO 的估值此前已處於歷史高位。隨着市場對日本銀行加息預期的加劇，這類高市盈率的成長股首當其衝面臨估值調整壓力。</p>
<p>值得注意的是，日經 225 指數在過去 12 個月中上漲超過 53%，僅在 2 月份就上漲了 10.37%，顯示出強勁的動能。然而，投資者應保持謹慎；該指數連續創下歷史新高已積累了獲利回吐壓力，全球科技股的波動以及日本貨幣政策預期的變化可能會引發短期調整。</p>
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1330

索尼

1369

軟銀

2 倍做空日元 ETF - ProShares

<p>日經 225 指數收於 58,850 點，創下歷史新高，本週上漲 3.56%，年初至今上漲 16.91%。這一激增歸因於日本貨幣政策的鴿派轉變以及政府對財政擴張的承諾。軟銀和索尼等關鍵股票大幅上漲，而一些與芯片相關的股票則面臨調整。儘管表現強勁，投資者仍被建議對獲利回吐壓力和市場潛在波動保持謹慎</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 - 在本週五收盤時，日經 225 指數（Nikkei 225）小幅上漲 0.36%，收於 58,850 點，創下歷史新高。整週來看，該指數累計上漲 3.56%，單週上漲超過 2,000 點。更引人注目的是其年初至今的表現；僅在兩個月內，漲幅已達到 16.91%，延續了 2025 年的爆發性牛市。</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>本週日經 225 指數的上漲受到多重因素的推動，其中日本貨幣政策的鴿派轉變是核心催化劑。</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>本週，日本政府提名了兩位&#34;再通脹主義&#34;學者進入日本銀行政策委員會；他們支持低利率、日元貶值和進一步的經濟刺激措施，這緩解了市場對進一步加息的擔憂。</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諾實施財政擴張和減税。寬鬆的貨幣和財政環境為股市釋放了更多流動性，為指數的上漲提供了強有力的支持。</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>在主要權重股的表現方面，科技巨頭軟銀集團本週一度上漲超過 4%，受到英偉達強勁財報和人工智能行業增長前景的積極情緒提振。索尼集團的股價在將股票回購計劃從 1500 億日元擴大至 2500 億日元后飆升 7.2%，突顯市場對其企業價值提升措施的認可。</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>與市場整體表現相比，芯片相關股票表現不佳；英偉達供應商 Advantest 本週五下跌 4.5%，DISCO 在周初表現強勁，但臨近週末的調整幅度較大，週五收盤下跌約 4.5%，週四錄得 1.2% 的下跌。DISCO 的估值此前已處於歷史高位。隨着市場對日本銀行加息預期的加劇，這類高市盈率的成長股首當其衝面臨估值調整壓力。</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，日經 225 指數在過去 12 個月中上漲超過 53%，僅在 2 月份就上漲了 10.37%，顯示出強勁的動能。然而，投資者應保持謹慎；該指數連續創下歷史新高已積累了獲利回吐壓力，全球科技股的波動以及日本貨幣政策預期的變化可能會引發短期調整。</p>
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日經 225 指數創下歷史新高，本週上漲超過 2000 點；日本股市的 “黃金時代” 是否會在 2026 年延續？