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Updated: June 2, 2010 15:52 IST

Japanese stocks rebound after premier’s resignation announcement

DPA
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A man uses a mobile phone in front of a securities firm in Tokyo. File photo
AP A man uses a mobile phone in front of a securities firm in Tokyo. File photo

Japanese shares rebounded in Wednesday morning trading after Japanese Prime Minister Yukio Hatoyama said he would step down. The Nikkei 225 Stock Average gained 35.71 points, or 0.37 per cent, to trade at 9,747.54 while the broader Topix index was up 1.75 points, or 0.2 per cent, at 881.79.

Tokyo stocks opened lower following an overnight fall on Wall Street. But after the premier announced his resignation, the stocks rose. On currency markets at 9 am (0000 GMT), the dollar traded at 91.13-17 yen, up from Tuesday’s 5 pm quote of 90.80-83 yen. The euro traded at 1.2245-2247 dollars, up from 1.2200-2203 dollars Tuesday, and at 111.60-66 yen, up from 110.80-84 yen.

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