Wednesday, 4 January 2017

Asian markets in green; Nikkei up 1.7% as the yen weakens

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Japanese shares up more than 1 percent on Wednesday morning as the yen weakened against a stronger dollar, and after a private survey suggested the manufacturing sector might be recovering. The Nikkei 225 leaped up 1.73 percent while the Topix bounced up 1.83 percent, likely due to expectations of a weaker yen after the greenback hit a 14-year high overnight against a basket of currencies. Earlier, Toshiba plunged as low as 6.9 percent to 263.5 yen each share at the open, after media reports that a Japan watchdog suspects the company padded profits by 40 billion yen in the past three years, Reuters reported.

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