The total market capitalization of the Tokyo Stock Exchange surpassed that of the Shanghai Stock Exchange and returned to the first place in Asia after 3 and a half years.

On January 11, the combined market value of stocks listed on the Tokyo Stock Exchange exceeded that of China's Shanghai Stock Exchange. This is the second time in about three and a half years that the Tokyo Stock Exchange has returned to Asia's No. 1 ranking. The return of investment capital to Japan and avoidance of China has brought about a reversal. It is reported that in the Tokyo market on January 11, the Nikkei Stock Average exceeded 35,000 points again since February 1990.

The total market capitalization of Topix (the total of the main market, standard market and growth market) reached 917 trillion yen, an increase of 13 trillion yen (1.5%) from the previous day, setting a record high for consecutive days. Converted to U.S. dollars, it reaches 6.32 trillion U.S. dollars.

Judging from the ranking of the total market capitalization of exchanges around the world, the New York Stock Exchange and the Nasdaq Exchange are the top two. Among Asian exchanges, Topix surpassed Shanghai ($6.27 trillion) and jumped to the top of the list.

Statistics from the World Federation of Exchanges show that on a monthly basis, Tokyo was surpassed by Shanghai in July 2020. If it can be maintained until the end of January, it will be the first reversal in about two and a half years. At present, the total market value of China's stock market, including Shenzhen and Hong Kong, is still higher than that of Japan's stock market.