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Japan's Nikkei posts biggest rise of 2023 as rally eclipses weak yen

Benchmark reaches 80% of all-time high in dollar terms

The Nikkei Stock Average closed at a fresh 33-year high Monday after its largest gain so far this year. (Photo by Koji Uema)

TOKYO -- The Nikkei Stock Average logged its biggest gain this year on Monday as the Japanese benchmark index's rise in dollar terms continued to draw international investors worried about missing the rally.

The Nikkei's 693-point jump to 32,217.43 followed a report Sunday by Morgan Stanley naming Japan as the most promising stock market in Asia.

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