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Markets

Japan stock rally spreads beyond chip sector to construction

Obayashi leads way with 21% gain after upgrading capital efficiency plans

The Nikkei Stock Average remained above the historically significant milestone of 40,000 on March 5. (Photo by Nanami Sato)

TOKYO -- Construction stocks led by Obayashi performed strongly in Tuesday's trading here, with the historic rally by Japanese equities broadening to general contractors that are moving to improve capital efficiency.

The Nikkei Stock Average closed down 0.03% at 40,097, having hit an all-time high above the psychologically significant 40,000 mark on Monday. With the sharp rise in semiconductor-sector stocks during the rally, investors moved to lock in profits.

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