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From Times Staff and Wire Reports
Japanese Stocks Resume Selloff: Japanese bank stocks led the renewed plunge this morning, tumbling at the opening on the view that banks remain overvalued in light of continued downward pressure on bank profitability and concerns that Japanese life insurers are also hurting, traders said. The benchmark Nikkei 225-stock average fell 608.26 points, or 3.64%, to close the morning at 16,118.11. On Friday, the Nikkei average closed down 496.55 points, or 2.88%, at 16,726.57.
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