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Post by bot on Feb 20, 2012 11:29:22 GMT -5
Japan stocks rally, with exporters, energy rising from MarketWatch.com - MarketPulse LOS ANGELES (MarketWatch) -- Japanese stocks thundered higher in the opening minutes of Monday trade, driven by Chinese monetary easing over the weekend, and hopes for an impending Greek debt deal, with a jump in crude-oil prices also pushing energy shares higher. The Nikkei Stock Average surged 1.7% to 9,539.09, while the Topix added 1,5%. With European leaders meeting to agree to a deal to prevent a messy Greek default likely later in the day, and with a bank-reserve cut in China aiming to help growth there, major exporters were significantly higher. Sony Corp. rose 2.5%, Toshiba Corp. gained 3%, Mazda Motor Corp. climbed 3.7%, Nintendo Co. improved by 2.8%, and Kawasaki Heavy Industries Ltd. shot 6.5% higher. Benchmark Nymex crude-oil futures moved above $104 a barrel, propelling oil majors, with Inpex Corp. up 3.3%, and Japan Petroleum Exploration Co. higher by 3.2%.
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