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Market Scramble: Yen's gains rattle Japanese auto stocks

Earnings-driven rally may struggle to get into gear

TOKYO -- Shares in Japanese exporters, especially automakers, skidded on a rising yen Wednesday, dampening hopes that corporate earnings growth will replace the Trump hype as a stock market driver.

The Nikkei Stock Average closed at a new low for the year. Toyota Motor, Honda Motor and Mazda Motor all finished at 2017 lows, while Subaru -- formerly Fuji Heavy Industries -- dipped 4% at one point. Automotive shares were the Nikkei index's second-worst performer by sector.

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