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Japan's Nikkei rallies 3.5 pct to 52-month high

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Published: Tuesday, 5 Feb 2013 | 11:50 PM ET

TOKYO, Feb 6 (Reuters) - Japan's Nikkei average surged 3.5 percent to a 52-month high on Wednesday, boosted by exporters as the yen fell after central bank Governor Masaaki Shirakawa decided to step down earlier than expected.

His decision raised the prospect that Japan will speed up aggressive monetary easing as Prime Minister Shinzo Abe has put the central bank under relentless pressure to do more to pull the economy out of the doldrums and made it clear that he wants a governor who will be bolder in loosening monetary policy.

The Nikkei climbed 383.45 points to 11,430.37, its highest level since early October 2008 and on track for its biggest one-day percentage rise since March 2011. The broader Topix jumped 3.1 percent to 969.17.

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TOKYO, Feb 6- Japan's Nikkei average surged 3.5 percent to a 52- month high on Wednesday, boosted by exporters as the yen fell after central bank Governor Masaaki Shirakawa decided to step down earlier than expected.

   
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