![]() Shares of major banks dropped on dilution concerns after Japan’s top lender Mitsubishi UFJ Financial Group said it would raise up to $10.6 billion to replenish a capital base depleted by a plunging stock market and its investment in Morgan Stanley. Seven & I Holdings Co jumped more than 14 percent after Credit Suisse lifted its rating on Japan’s largest retailer to “outperform” from “neutral,” citing a stable outlook for its earnings and the defensive nature of its stock. The Nikkei average rose 3 percent on Tuesday, with investors picking up beaten-down shares such as Honda Motor after the benchmark briefly broke below 7,000 for the first time in 26 years. ![]() ![]() ![]() People are reflected on a stock quotation board displaying the Nikkei share average outside a brokerage in Tokyo October 28, 2008.
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