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Japanese stocks emerging as safe haven for global investors

TOKYO -- Amid renewed deadlock over Greek debt, business went surprisingly as usual on the Tokyo stock market Friday, with no signs of panic selling. The benchmark Nikkei Stock Average lost 65.25 points, or 0.31%, to finish the week at 20,706.15.

     Overseas funds continued to flow into Japanese stocks, making Fast Retailing and Eisai investor favorites. Foreigners are buying Japanese shares because, according to Norikazu Akedo, a senior managing director at Nomura Securities, "they have become their safe haven." Japanese stocks are seen as safe assets with little downside risk.

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