M&A Speculation Spurs Rally in Japanese Automaker Stocks
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Japanese automaker shares climbed after news of a potential merger between Honda Motor Co. and Nissan Motor Co. stoked speculation that more deals are on the horizon for the industry.
While Nissan led gains in the sector with a jump of as much as 24%, shares of Mazda Motor Corp. and Hino Motors Ltd. both advanced more than 6% at one point. Subaru Corp., Toyota Motor Corp. and Suzuki Motor Corp. also rose, even as the wider Japanese market fell.