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August 11, 2009

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Nikkei Hits 10-Month High

JAPAN'S Nikkei stock index hit a new 10-month high yesterday as investors took heart from a drop in the United States jobless rate and a better-than-expected increase in Japan's machinery orders.

The benchmark Nikkei 225 stock average rose 112.17 points, or 1.1 percent, to 10,524.26, the highest close since October 6.

The broader Topix index gained 1.3 percent to 969.24.

The Labor Department's report last Friday showed that the US unemployment rate fell to 9.4 percent in July, the first decline in 15 months.


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