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Market Scramble: Unswayed by BOJ stock buying, foreigners head for exit

TOKYO -- Overseas investors are turning away from Japanese stocks and toward emerging markets for growth, unconvinced by the central bank's increased asset buying and the government's fiscal stimulus plans.

The Nikkei Stock Average slipped 0.3% to 16,869 Monday, dashing hopes for a return to the 17,000 level. Brokerages here have talked up the potential for the Bank of Japan's recently increased exchange-traded fund purchases to boost the index by as much as 2,000 points. But foreign investors have so far been unmoved.

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