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Asian Markets Rise. The Nikkei Hits New High |
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1:13 PM EST March 29 2006 |
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Asian-Pacific benchmarks ended mixed with Singapore and Japan hitting new multiyear highs. The Nikkei reached a nearly six-year high of 1.5% to 16,938.41, lifted by improved confidence in economic recovery and fresh fund flows. Technology and exporter-related issues advanced on stronger dollar vs. the yen. Gainers included Yahoo Japan, up 7.6%, Tokyo Electron 3.4%, Advantest Corp, up 3.9%. Banking stocks also gained strength. Among other regional markets, Singapore Straits Times hit a six-year high of 0.3%, China’s share prices rose 0.5%, Taiwan’s Weighted index climbed 0.7% on expectations of strong results among chip makers, while Hong Kong’s Hang Seng fell 0.7% on property stocks, following U.S. interest rate increase. |
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