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Tokyo stock prices rallied Monday amid news of the Hokkaido Takushoku Bank failure, as investors shopped for bargains, aided by growing expectations that public funds will be used to help dispose of a huge amount of bad loans.

The Nikkei average shot up 1,200.80 points to close at 16,283.32, and the Topix index, which shows the moves of all first section stocks, closed at 1,257.85, up 80.33 points. The dollar was quoted at 125.17-yen 125.20 yen in Tokyo at 5 p.m. against Friday’s 125.74-yen 125.76 yen, after wildly fluctuating between 124 yen and 126 yen.

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