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Japan's Nikkei index rises for fifth day | |
(about 5 hours later) | |
Japan's Nikkei index registered its biggest weekly gain since October, while Asian shares were mostly higher as worries over Greece and China eased. | |
The Nikkei 225 closed up 50.80 points at 20,650.92, its fifth gain in a row, having risen by 4.4% over the week. | |
Shares in electronics giant Sharp fell 4% on reports that it would report a loss for the April to June quarter. | |
In mainland China, stocks rose with the Shanghai Composite climbing 3.5% to 3,955.28. | |
In Hong Kong, the Hang Seng index was 1.2% higher at 25,472.43. | |
In South Korea, shareholders of construction firm Samsung C&T have approved the merger plans with holding company Cheil Industries. | |
The deal had been strongly criticised by US hedge fund Elliott Associates, the third-largest shareholder in Samsung C&T. | |
The share prices of both firms dived after the vote, with Samsung C&T closing down 10.4% and Cheil dropping 7.7%. | |
The country's benchmark Kospi index closed down 0.5% at 2,076.79. | |
In Australia, the S&P/ASX 200 index was flat at 5,671.10 points. | |
But Evan Lucas, market strategist with IG, said in a note that he was optimistic about the general outlook for Australian stocks. | But Evan Lucas, market strategist with IG, said in a note that he was optimistic about the general outlook for Australian stocks. |
"China worries have died down and Greece is now a non-issue (until September, anyway). The next month or two may be the first positive months since February." | "China worries have died down and Greece is now a non-issue (until September, anyway). The next month or two may be the first positive months since February." |