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Hitachi Construction shares jump 7% on commodities rally

Higher coal prices revive investment for mining gear in Indonesia and Russia

An excavator and dump truck at work at a mine: Hitachi Construction Machinery upgraded its forecast for full-year net profit thanks to a rebound in infrastructure projects and rising commodity prices. (Photo courtesy of Hitachi Construction Machinery)

TOKYO -- Hitachi Construction Machinery shares climbed 7% on Wednesday after the company released first-half earnings that beat market expectations and included an upgraded profit forecast.

The stock rallied for a fourth straight day to close at 3,715 yen, near the intraday high and not far off the year-to-date high of 3,750 yen marked in June. The Nikkei Stock Average was roughly flat Wednesday, while rival Komatsu's shares gained 2.5%. Caterpillar shares dipped 1.3% on Tuesday in New York.

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