LOS ANGELES (MarketWatch) — Japanese shares pared the deep losses they suffered Thursday morning as the yen retreated after hitting a record high agains the U.S. dollar and as Japanese military conducted operations to cool the stricken No. 3 reactor at the Fukushima nuclear facility. The Nikkei Stock Average , which had dropped as much as 5% at one point, later eased losses to trade down 2.7% at 8,851.08; the broader Topix fell 2.3% to 798.81. Fears about high radiation levels remained. The U.S. dollar, which had slumped to a record low of 76.25 yen from 79.73 yen late in New York, was later at 79.61 yen. The stock selloff was broad-based, with Sony Corp. falling 2.3%, Toshiba Corp. plunging 5.9% and Fujitsu Ltd. falling 5.9%. Among autos, Toyota Motor Corp. lost 3.1%, while Tokio Marine Holdings Inc. down 3.6% among insurers.
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March 16th, 2011
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