The Nikkei just smashed to an 18-year high

The Nikkei stock index hit a new 18-year high during trading on Wednesday, climbing past a peak set in 2000, and reaching levels last seen before the 1997 Asian financial crisis.

Japan's stocks have a mixed history: They're still barely halfway back to where they were in 1989, before the equity bubble burst (and the Nikkei peaked at 38,957.44), but they've surged in the last two and a half years.

Here's how the last few years look:

Investing.com, Business Insider

Since Japanese Prime Minister Shinzo Abe was elected at the end of 2012, promising an economic programme of fiscal and monetary stimulus, the Nikkei has risen by almost 100%.