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| Japan's Nikkei passes 15,000 for first time since 2008 | Japan's Nikkei passes 15,000 for first time since 2008 |
| (about 1 hour later) | |
| Japanese shares have climbed past the 15,000 mark for the first time since January 2008, as the yen continues to weaken - boosting the earnings potential for exporters. | Japanese shares have climbed past the 15,000 mark for the first time since January 2008, as the yen continues to weaken - boosting the earnings potential for exporters. |
| The benchmark Nikkei index rose 2% to 15,096, with carmaker Toyota and consumer electronics giant Sony leading the gains. | The benchmark Nikkei index rose 2% to 15,096, with carmaker Toyota and consumer electronics giant Sony leading the gains. |
| The Nikkei is up 46% since the start of 2013. | The Nikkei is up 46% since the start of 2013. |
| Japan's central bank has embarked on an aggressive plan to weaken the yen. | Japan's central bank has embarked on an aggressive plan to weaken the yen. |
| A weaker Japanese currency translates into higher earnings for companies when the funds are repatriated back into the country. It also makes their products more competitive overseas. | A weaker Japanese currency translates into higher earnings for companies when the funds are repatriated back into the country. It also makes their products more competitive overseas. |
| The yen is at a four-and-a-half year low against the US dollar, trading at the 102 mark in Asia. | The yen is at a four-and-a-half year low against the US dollar, trading at the 102 mark in Asia. |
| The currency has declined by more than 20% since Japanese Prime Minister Shinzo Abe took office in December last year. | The currency has declined by more than 20% since Japanese Prime Minister Shinzo Abe took office in December last year. |
| Mr Abe has backed the central bank's ultra easy monetary policy, which calls for pumping more money into the Japanese system. | Mr Abe has backed the central bank's ultra easy monetary policy, which calls for pumping more money into the Japanese system. |
| The move is aimed at weakening the currency but also raising consumer prices. | |
| Japan's economy has been battling nearly two decades of falling prices, known as deflation, which discourages spending by companies and consumers as they hold out for a better deal. | Japan's economy has been battling nearly two decades of falling prices, known as deflation, which discourages spending by companies and consumers as they hold out for a better deal. |
| Shares of Isuzu Motors climbed 20% after it posted a record full year net profit of $946m (£621m), driven by strong overseas sales. | Shares of Isuzu Motors climbed 20% after it posted a record full year net profit of $946m (£621m), driven by strong overseas sales. |
| Sony shares are also surging after one of the company's biggest shareholders suggested the firm should spin off up to 20% of its entertainment business, and use the funds to shore up its struggling electronics arm. | Sony shares are also surging after one of the company's biggest shareholders suggested the firm should spin off up to 20% of its entertainment business, and use the funds to shore up its struggling electronics arm. |