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Asia stocks gain amid modest Nikkei recovery

6:05 AM, May 28, 2013   |    comments
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BANGKOK (AP) - Investors seeking bargains helped push Japan's benchmark stock index higher today after plunging 3 percent the day before. Other Asian markets registered relief with slight gains.

The Nikkei has been on a rollercoaster ride since last Thursday, when it plummeted more than 7 percent after interest rates on the country's benchmark 10-year bond spiked to above 1 percent for the first time in a year.

Overall, however, the index has soared 37 percent this year, a show of investor support for Prime Minister Shinzo Abe and his aggressive policies aimed at reversing years of economic malaise and deflation.

Benchmark crude oil fell below $94 per barrel. The dollar rose against the euro and the yen.






Associated Press

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