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Market Scramble: Midcap growth stocks take center stage

TOKYO -- In a directionless Japanese stock market, foreign investors are passing over blue chips in favor of midtier companies that are less sensitive to exchange rate swings and expected to enjoy steady growth.

The Nikkei Stock Average snapped a winning streak Wednesday with its first drop in six trading days. Even as the benchmark index's decline reached 300 points in the afternoon amid a sharp rise by the yen, some stocks bucked the trend.

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