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Tokyo stocks edge higher after Fed rate hike

Toyota added 1.77 percent to finish at 7,156 yen as the benchmark index rose 0.10 percent for another fresh highTokyo’s benchmark index squeaked out another fresh high for the year on Thursday, boosted by the yen’s slide after the US Federal Reserve announced a long-awaited rate hike and said there would be more next year. The dollar surged to fresh 10-month highs against the yen — boosting Japanese exporters — after the Federal Reserve lifted interest rates for only the second time in a decade. While Tokyo stocks opened higher on the weak yen they soon lost steam as profit-taking set in before the morning close.

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