Nikkei at highest since September 2008

<p>The Nikkei has reached a new four-and-a-half year high.</p>

The Nikkei has continued its recent successes by reaching a new four-and-a-half year high.

It finished 1.3 per cent higher at 12,635.69 and it is September 2008 since trading ended with the index in such good health.

Toshihiko Matsuno, a senior strategist at SMBC Friend Securities, told Reuters that he expects the market to remain in a strong position for the near future.

He pointed out the next meeting of the Bank of Japan – with new governor Haruhiko Kuroda and his deputies Kikuo Iwata and Hiroshi Nakaso – will be held on April 4th and the Nikkei is expected to carry on growing until then.

"Everybody seems to be making money … when sentiment is so strong and they have big risk capacity, negative news will hardly dent the market and only offers good buying opportunities," said Yasuo Sakuma, portfolio manager at Bayview Asset Management.

Despite the recent strength of the Nikkei, the Hang Seng Index slipped 0.2 per cent and dropped to a three-and-a-half month low earlier this week.

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