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Nikkei rebounds 6.4 percent after massive losses

Nikkei rebounds 6.4 percent after massive losses

Japan's benchmark stock index has closed 6.41 percent higher after hitting a 26-year-low.
The bench Nikkei 225 index soared 459.02 points to 7,621.92, recovering from massive losses on Monday when the index plunged 6.36 percent to its 26-year-low on growing pessimism over corporate earnings and a global recession.
Earlier, the Nikkei index slipped below the 7,000-level, but investors stepped in to buy exporters like Toyota and Sony on bargain-hunting.
An easing in the yen also encouraged sentiment. The dollar rose to 95.51 yen from 93.01 yen in late New York trading.
A strong dollar erodes exporters' overseas earnings when repatriated.


Updated : 2021-06-13 13:50 GMT+08:00