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Continued volatility at Kabutocho

May 24, 2013

Japan equity exchanges pared yesterdays losses, the biggest decline since the Fukushima disaster, but rebounded shortly before today’s close. The Nikkei 225 first rose 3.6%, then slumped another 3.5%, closing 0.9% higher. Japan’s Topix Index climbed 0.5%, following a 6.9% plunge yesterday, after government bond yields rose to the highest levels in a year and Chinese manufacturing missed estimates. The yen strengthened after the Bank of Japan Governor Haruhiko Kuroda said he has done enough to stimulate the economy. The yen advanced to nearly 101 to the dollar.