Nikkei continues to rise
The Nikkei is off to a flying start this week.
The Nikkei has continued to hit new five-and-a-half year peaks in this morning's (May 13th) trading session.
It was up by 1.7 per cent at one point this morning, continuing the fine performance of the index over the course of the last few weeks.
The market has been strengthened by the weakness of the yen against the dollar, which fell down to a fresh four-and-a-half year low against the dollar of 102.15 yen, reports Reuters.
This morning, the Nikkei reached as high as 14,849.01, which is more than it has stood at for any point since January 2008.
"If international peers criticise the yen's weakness, investors who are on the nervous side could stop chasing the market higher. Now, such concerns are receding," said Kenichi Hirano, a strategist at Tachibana Securities.
Last week was the best for the Nikkei since 2009, with the index recording strong gains despite the shortness of the week due to the public holiday in Japan on Monday. It was up 6.5 per cent on the start of the week.
Learn about the Asian markets and CFD trading at City Index
Latest market news
April 25, 2024 03:09 PM
April 25, 2024 03:00 PM
April 25, 2024 01:12 PM
April 25, 2024 11:14 AM