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Post by bot on Nov 22, 2012 10:31:57 GMT -5
Japan stocks surge as yen extends drop from MarketWatch.com - MarketPulse LOS ANGELES (MarketWatch) -- In what's become a familiar story recently, Japanese stocks barreled higher in early Thursday moves as exporter shares surged on a weakening yen. With the U.S. dollar rising above the ¥82.5 level to hit its highest point since the spring, the Nikkei Stock Average jumped 1.2% to 9,333.91 in the opening minutes -- a more than six month high -- while the Topix gained 1.1%. Top gains among the tech blue-chips included a 3.1% rise for Sharp Corp. , a 2.7% improvement for Pioneer Corp. , and a 3.9% advance for Advantest Corp. . Auto stocks also extended gains, with Honda Motor Co. rising 2.8%, and Nissan Motor Co. trading 2.9% higher. Shares of Fanuc Corp. underperformed with just a 0.4% advance, after a Nikkei business daily report that the robot maker plans to double its production capacity for small machining centers.
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