Sony gains push Nikkei higher

<p>The Nikkei has continued to move forwards this morning.</p>

Fresh five-and-a-half year highs have been reached by the Nikkei in this morning's (May 22nd) trading session, with gains by Sony helping to push the index further up.

The share price of the electronics company grew by more than eight per cent over the course of the session, reaching a two-year high for the firm, on the back of the news that the company is considering evaluating a proposal to split its business.

Since the turn of the year, the Nikkei is now up by around 50 per cent and in this morning's trading session it was up by 1.2 percent to 15,559.95 at the midday break, after trading as high as 15,564.90.

A senior trader at a foreign bank told Reuters: "It's probably fair to say that the really heavy institutional flow that we have been seeing in certain days this month has slowed down a little bit."

It was suggested that today's Bank of Japan policy-setting meeting will have an impact on the index in the coming days.

Sharp and Tokyo Electric were among the major movers on the Nikkei in yesterday's trading.

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