The pandemic has accelerated systemic changes that were apparent before its inception. The fault lines that emerged in 2020 now appear as critical crossroads in 2021. The Davos Agenda will help leaders choose innovative and bold solutions to stem the pandemic and drive a robust recovery over the next year, it added.
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Japanese stocks hit their highest levels in three decades this past week ensuring that Warren Buffett, who made a big bet on Japanese shares in September, is right again. The
Nikkei 225 rose 714 points, or 2.7%, and briefly touched 27,601 on Tuesday, the highest since 1990. The Nikkei famously topped out at 38,957 in December 1989.
Japan has had a relatively low Covid-19 caseload, and the Nikkei has ridden the global market rally driven by stimulus. President Trump signed a $900 billion relief bill, and South Korea President Moon Jae-in confirmed a third round of direct payments of about $8.5 billion. Both markets are key for the Nikkei, whose stocks on average get 13% of revenues from the U.S. and 2.8% from Korea.