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Nikkei up on insurers, but pre-data doubts weigh

Tue Feb 12, 2008 9:10pm EST
 
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(Updates to midsession)

TOKYO, Feb 13 (Reuters) - Japanese stocks climbed more than 1 percent on Wednesday as Millea Holdings Inc (8766.T: Quote, Profile, Research, Stock Buzz) and other insurers rose as an offer of help to U.S. bond insurers soothed market worries about credit woes. Canon Inc (7751.T: Quote, Profile, Research, Stock Buzz) and its blue-chip exporter peers rose on a weaker yen, also boosting the overall market.

But gains were limited by uncertainty ahead of key Japanese and U.S. economic indicators including Japan's gross domestic product data due on Thursday. The benchmark Nikkei .N225 was up 1.4 percent at midsession at 13,202.70, logging a gain of 180.74 points, while the broader TOPIX was 1.2 percent higher at 1,301.24. (Reporting by Elaine Lies)

 

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