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Nikkei rises on hopes of dovish Fed; Japan Tobacco tumbles
December 17, 2014 / 6:27 AM / 3 years ago

Nikkei rises on hopes of dovish Fed; Japan Tobacco tumbles

TOKYO, Dec 17(Reuters) - Japanese stocks rose on Wednesday,
moving away from a 6-1/2-week low as hopes of a continuation of
the U.S. Federal Reserve's dovish stance helped sentiment
recover, while Japan Tobacco Inc tumbled.
    Japan Tobacco, which is highly exposed to crisis-hit Russia,
dived 7.8 percent on heavy volume and contributed a hefty
negative 10 points to the Nikkei. It was the fourth most traded
stock by turnover. 
    Goldman Sachs said Russia contributes 20-25 percent of its
operating profits, and a 1 percent rouble depreciation reduces
its profit by almost 3 billion yen. The rouble has fallen 20
percent since the start of the week and more than 50 percent
this year. 
    The Nikkei benchmark ended 0.4 percent higher at
16,819.73, moving away from 16,672.94 hit earlier in the day,
the lowest level since Oct. 31.
    The broader Topix shed 0.1 percent to 1,352.01,
while the JPX-Nikkei Index 400 dropped 0.2 percent
to 12,259.36. 

 (Reporting by Ayai Tomisawa; Editing by Shri Navaratnam)

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