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Asian stocks swung between gains and losses amid overheating signs as China’s inflation accelerated and Japan approved 10.3 trillion yen ($116 billion) of stimulus measures. The yen touched 89.35 versus the dollar, the weakest level since June 2010, on speculation the Bank of Japan will cooperate with Abe’s government to ramp up monetary easing. Japan’s currency extended declines after the nation posted wider-than- expected current account and trade deficits.
Nikkei 225 10,801.57 +148.93 +1.40%
Hang Seng 23,264.07 -90.24 -0.39%
S&P/ASX 200 4,709.49 -13.47 -0.29%
Shanghai Composite 2,243 -40.66 -1.78%
Agile Property Holdings Ltd. led Chinese developers lower, falling 3.1 percent in Hong Kong.
Sharp Corp. jumped 13 percent in Tokyo after the Mainichi newspaper reported the television maker will record an operating profit.Sony Corp. and Canon Inc. both gained more than 1 percent as a weaker yen boosted the earnings outlook for Japanese exporters.
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