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Nikkei enjoys sixth day of growth

Nikkei enjoys sixth day of growth
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The Nikkei enjoyed a sixth successive day of growth in stock market trading on Tuesday (July 5th), although its momentum has begun to slow.

According to Reuters, the Nikkei benchmark closed at 9,972.46 - a rise of 0.1 per cent - while the broader index finished the day at 865.18 after climbing to a three-month high of 867.46.

Despite this continued growth, most stock market trading experts are tipping the surging value to come to an end sooner rather than later, with around nine in ten shares being traded above their 25-day moving average.

Soichiro Monji, chief strategist at Daiwa SB Investments, commented: "Foreign investors who had bought at cheaper levels are taking profits at around 10,000. So the market is capped in the very short term."

Elsewhere in Japan, local media outlets have reported that the Tokyo Stock Exchange is considering a takeover of its rival the Osaka Securities Exchange through a tender offer for its shares.

Posted by Greg SeckerADNFCR-1681-ID-800611971-ADNFCR