Nikkei 225 closes higher for tenth day

Nikkei 225 closes higher for tenth day

The Nikkei 225 has risen for the 10th consecutive day as it closed up 0.39 per cent on Thursday (May 28) at 20,551.46.

It is the index’s longest rally since February 1988, when it clocked up 13 consecutive days of rising shares.

Chris Weston, market analyst at IG Group, said the Japanese economy was showing signs of improvement, as seen in its retail trade data.

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He added: “How many markets around the world have actually seen earnings estimates being revised higher this year? Not many.

“When you mix in 10 straight quarters of earnings beats, huge cash balances on company balance sheets (even dwarfing US corporates) and an ever-increasing level of returning cash to shareholders, you can see why the Nikkei is up 14 of the last 15 sessions.”