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Asia Markets: Nikkei leads Asian market gains as yen drops

Global equities continued to build on their recent gains early Monday, after late week strength for U.S. equity markets.

Asian indexes were higher to start the week after a rally on Wall Street Friday with Japan’s Nikkei Stock Average leading. The Nikkei NIK, +0.81% was up 1% amid a modest drop for the yen from Friday’s Asian levels.

Export and drug stocks were among the early gainers with the sectors about 2% higher.

Most other Asia Pacific indexes were up about 0.5%.

Investor sentiment was helped by the Federal Reserve’s semiannual monetary-policy report to Congress released Friday, said Vishnu Varathan, a senior economist at Mizuho Bank in Singapore.

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