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Around the World's Markets: Tokyo

THE NIKKEI 225 closed up 388.24 points at 13,952.75, a 2.9 per cent gain. Shares were buoyed by bargain-hunting ahead of a planned tie- up between Dai-Ichi Kangyo Bank and Fuji Bank and a public holiday today.

Renewed buying emerged towards the close on the yen's decline against the dollar to near 116.

Earlier in the day, gains were eroded by the yen's rally which put immediate pressure on international blue chips and exporters.