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Nikkei up 2% as yen weakens

Nikkei up 2% as yen weakens
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First Published: Mon, Aug 11 2008. 12 01 PM IST
Updated: Mon, Aug 11 2008. 12 01 PM IST
Reuters
Tokyo: Japan’s Nikkei stock average climbed 2% on Monday for its highest close in nearly three weeks as Honda Motor Co and other exporters gained on a weaker yen and inflation worries took a breather.
Lower oil prices also helped concerns about the outlook for corporate profits recede, although the slide in oil hit trading companies such as Mitsubishi Corp hard, causing them to drag on the Nikkei.
The benchmark Nikkei gained 262.50 points to 13,430.91, its highest close since 24 July. The broader Topix gained 1.6% to 1,280.
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First Published: Mon, Aug 11 2008. 12 01 PM IST
More Topics: Markets | Japan | Stocks | Nikkei | Topix |