Joined Nov 11, 2007
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The Nikkei Pops 5.2% as the Yen Weakens

“Asian stocks rose, with the regional benchmark index heading for the biggest rally in more than a week, after a report showed the U.S. added more workers than expected. Japanese shares surged after a three-week, $600 billion rout.

Japan’s Topix index jumped 5.2 percent, the most since March 2011, after the Government Pension Investment Fund, the world’s biggest manager of retirement savings, said on June 7 it will sell bonds to buy more equities. Toyota Motor Corp., the No. 1 global carmaker, gained 8.6 percent. Yue Yuen Industrial Holdings Ltd. (551), a shoemaker that gets 29 percent of its revenue in the U.S., rose 2.7 percent in Hong Kong. Sharp Corp. (6753) jumped 15 percent after Qualcomm Inc. agreed to a second purchase of the unprofitable Japanese TV maker’s shares….”

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