Japanese shares climb as the Yen keeps weakening

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Source: Dukascopy Bank SA
Japanese equities edged higher hitting a 32-month high as the national currency kept declining versus the greenback after investors became more optimistic on the new government's plans to boost Japan's economy. The Nikkei 225 index rallied 2.9% to 10,926.67, as the country's government pledged the yen to continue weakening. All but two groups in the gauge edged higher with consumer services outperforming other groups. Dainippon Sumitomo Pharma Co advanced 11.5% to 1,416 yen to pace gains in the second best performing health care group. Furthermore, Konami Corporation halted losses in technology sector, as it declined nearly 2.5%, followed by Nippon Paper Group that rose 9.11% and supported basic materials shares that gained 0.15%. Among worst performing blue chips was Toyobo Co, natural and synthetic fiber manufacturer that lost 1.45% to 136 yen and capped further increase in consumer goods stocks that were 0.36% up. Kansai Electric Power eased 1.32% and to halt further advancements in utilities, while Tokyo Tatemono erased 1.19%.

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