Japan’s Builders Gain on Demand Outlook After Earthquake
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Kajima Corp. surged the most in more than two years, leading gains among Japan’s construction stocks, after the country was stuck by its strongest earthquake on record, boosting expectations for reconstruction demand.
The 95-member Topix Construction Index advanced 6.4 percent as of the 3 p.m. close in Tokyo trading, the only measure among the benchmark gauge’s 33 industry groups to post a gain today. Kajima, Japan’s largest construction firm, rose 22 percent to 259 yen, the biggest increase since Oct. 14, 2008. Taisei Corp., the third-largest builder, climbed 20 percent to 223 yen, the largest jump since April 24, 2000.