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2013.06.1405:27:17UTC+00Japan stocks bounce back; Kawasaki heavy, exporters boost

Japanese stocks rallied strongly Friday as eased worries about the Federal Reserve's financial policy and an improvement in U.S. retail sales aided weaken the yen and lift exporters from Thursday's sharp declines. The Nikkei Stock Average jumped 2.8% to 12,796.13 to take back some ground after the previous day's 6.4% tumble, while the broader Topix acquired 2.7% increase to 1,072.65. Several exporters advanced with the dollar firmly back above ¥95 after dropping under ¥94 on Thursday. Shares of Mazda Motor Corp. bolster 4.9% and Casio Computer Co. recorded a 5.2% increase. Also reversing some recent declines, real-estate major Mitsui Fudosan Co. surged 5.4% and Mitsubishi Estate Co. soared 5%. Kawasaki Heavy Industries Ltd. skyrocketed 6.9% after the Nikkei newspaper reported the company's directors have dismissed its president and scuttled merger talks with Mitsui Engineering & Shipbuilding Co. Mitsui Engineering produced 1.4% more.

 

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