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Nikkei posts longest winning streak since 1961 on weaker yen, Abe hopes

Japan's Nikkei index sees longest winning streak since 1961
Japan's Nikkei index sees longest winning streak since 1961

Japan's Nikkei share average rose for the 14th session in a row today to post its longest winning streak in over 50 years, as a weaker yen helped stocks recoup earlier losses. 

The Nikkei index opened 0.3% lower but ended 0.04%, or nine points, higher at 21,457.64. That was enough to clinch its longest daily winning streak since 1961. 

For the week, it gained 1.4%, its sixth weekly gain in a row and the longest such winning streak in a year. 

The Nikkei has advanced more than 5% over the past 14 days on hopes that Japanese Prime Minister Shinzo Abe's ruling coalition will win a general election over the weekend. 

Traders said that the market is prone to profit-taking before the election, but the weaker yen, which helps export competitiveness, raised investors' risk appetite on Friday.