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.
Learn about the Asian markets and CFD trading at City Index
StoneX Financial Ltd (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.