In the first two months of 2024, the Japanese stock market continued to be strong, in which the Nikkei 225 index rose by more than 19% in the year ending March 5, while it rose by 28.2% in 2023. The rally was fueled by ultra-loose monetary policy in the Japanese stock market, which was further fueled by the magnification of overseas profits of Japanese companies in the context of the depreciation of the yen.In the short term, the Bank of Japan will not withdraw from QEE soon, and it will take time for the Federal Reserve to cut interest rates. Driven by the slowdown of economic growth and loose monetary policy, the depreciation trend of the yen will not be reversed, and the Japanese stock market bubble will continue to expand. In the medium term, with Japan's inflation reaching the policy