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Japan's Nikkei on longest rally since 1988 | |
(about 5 hours later) | |
Japanese shares rose for the 10th consecutive session on Thursday, marking its longest rally for more than a quarter of a century. | |
Japan's Nikkei 225 index closed up 0.4% at 20,551.46, and has now chalked up its longest winning streak since a 13-day run in February 1988. | |
Investor confidence was boosted by retail sales data rebounding in April. | Investor confidence was boosted by retail sales data rebounding in April. |
Figures showed that retail sales rose 5% from a year ago, reversing three months of falls. | |
The Nikkei index has gained 5% during the 10-day run. | |
Shares of Honda were up 1.7% despite the automaker expanding its recall of cars in Japan over airbag inflators made by Takata to 340,000. Honda had already recalled millions of cars earlier this month. | |
China leads losses | |
Chinese shares fell sharply after a number of brokerages tightened lending requirements on margin financing and investors prepared for another wave of initial public listings next week. | |
Analysts estimate that the new listings could freeze up about 5tn yuan ($807bn; £523bn) of liquidity. | |
Hong Kong's Hang Seng was down 2% at 27,504.37, while the Shanghai Composite fell 3.8% to 4,757.6. | |
In Australia, the S&P/ASX 200 ended 0.2% lower at 5,713.10 after data showed that business investment in the first quarter of 2015 saw the biggest fall for more than six years. | |
Investment fell 4.4% in the quarter, compared with forecasts of a 2.4% drop. | |
South Korean shares recovered from heavy falls earlier in the session, with the benchmark Kospi index closing up 0.2% at 2,117.77. |