The key Nikkei index climbed above 30,000 in the morning and finished above the mark for the first time in over 30 years. The closing price was 30,084.15, up nearly 2 percent from the previous trading day.

According to one investor, "I don’t really feel it but it looks like there’s excess money." Another told NTV24, "It seems money is stuck somewhere without a place to go amid the coronavirus. I don’t know why the Nikkei is rising because the economy isn’t that great."

The Cabinet Office said Japan’s gross domestic product for October to December of 2020 expanded an annualized 12.7 percent in real terms, showing growth for the second straight quarter.