Nikkei records longest winning streak for 26 years

<p>The Nikkei was up for the tenth session in a row today.</p>

The Nikkei has recorded its longest winning streak for 26 years after posting a tenth successive session of growth today (August 22nd).

This year has been testing for the index so far but the market appears to be recovering and today's 0.2 per cent increase meant it finished the week at 15,611.35.

However, trading activity was subdued as a result of investors waiting for chair of the Federal Reserve Janet Yellen to make a speech a policymakers' meeting in Jackson Hole, Wyoming, today, reports Reuters.

"Even though there may not be a surprise, most investors including event-driven funds want to hold their positions until Yellen's speech is over, and they may take profits after that," said Norihiro Fujito, a senior investment strategist at Mitsubishi UFJ Morgan Stanley Securities.

Shinsei Bank was among the best performers on the Nikkei today, growing its share price by 2.3 per cent after reports it is preparing a bid for Citigroup's Japanese retail banking operations.

Mitsui and Nippon were among the other companies to post increases in their share prices over the two per cent mark during trading today.

Learn about the Asian markets and CFD trading at City Index.

Join our live webinars for the latest analysis and trading ideas. Register now

GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.