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Tokyo stocks rebound in morning as concern about Turkey lingers

TOKYO (Kyodo) -- Tokyo stocks rebounded Tuesday morning as investors took a breather amid a halt in the plunge of the Turkish lira, although they remained concerned about the effects on emerging economies.

The 225-issue Nikkei Stock Average gained 254.66 points, or 1.17 percent, from Monday to 22,112.09. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 13.05 points, or 0.78 percent, to 1,696.55.

Gainers were led by transportation service and precision instrument issues.

Shares rebounded after a four-day losing streak, with investors encouraged by a relatively limited fall in U.S. stocks overnight, brokers said. But the Nikkei's upside was heavy amid fears of a financial crisis in Turkey and its spillover effects on other emerging economies which could also see their currencies slide, brokers said.

"Investors bought back shares (following the previous day's plunge) as the Turkish lira's plummet has halted for now and the yen grew weaker against the U.S. dollar," Yutaka Miura, senior technical analyst at Mizuho Securities Co., said.

On the First Section, advancing issues outnumbered decliners 1,581 to 443, while 77 ended the morning unchanged.

A weaker yen helped lift exporter issues such as auto and technology manufacturers.

Suzuki Motor climbed 213 yen, or 3.0 percent, to 7,376 yen while Honda Motor was up 35 yen, or 1.1 percent, to 3,307 yen. Fujitsu advanced 22.10 yen, or 3.0 percent, to 770.10 yen, with Panasonic rising 17 yen, or 1.2 percent, to 1,406 yen.

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