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Japan's May leading index rises to 6-month high

Japan's leading composite index, which anticipates changes in the economy's direction, rose for the second straight month to 106.9 in May, its highest level since November 2017, preliminary data from the Cabinet Office showed.

The May reading improved from 106.2 in the previous month.

The coincident index, which indicates the country's current economic state, fell to 116.1 in May, after rising to 117.5 in the prior month. The index was assessed as "improving."

The lagging composite index, which is a measure of turning points and business cycle phases, climbed to 118.8, its highest level in more than nine years, from 117.3 in April.