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Stocks

Tokyo stocks hit year-to-date high despite Moody's downgrade

TOKYO -- Moody's decision to lower Japan's debt rating failed to put a dent in the Nikkei Stock Average, which continued Tuesday to set fresh highs for the year as investors maintain bullish outlooks going into the year-end.

     The market is following a common saying here that warns against selling in a quiet market. "People don't see the Moody's downgrade as a big incentive [to sell]," said a trader at a major securities firm.

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