(RTTNews) - The Japanese market closed sharply higher on Thursday, extending its gains for the third straight session. The market started of higher,

TOKYO, July 24 (Reuters) - Japan's Canon Inc (7751.T: Quote, Profile, Research) said on Thursday it was assuming a dollar/yen exchange rate of 105 yen for the second half of 2008.
Canon originally set its dollar/yen assumption at 107 yen for 2008, but in April it revised that to 100 yen for the last nine months of calendar 2008 and cut its annual earnings outlook.
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By Aiko Hayashi TOKYO, July 24 (Reuters) - Japan's Nikkei average rose 2.2 percent on Thursday to a four-week closing high, as Toyota Motor Corp (7203.T: Quote, Profile, Research) and other carmakers led gains by exporters on a softer yen versus the dollar and a drop in oil prices.
Toray Industries (3402.T: Quote, Profile, Research) and Mitsubishi Rayon (3404.T: Quote, Profile, Research) surged on plans to work with other firms to develop a new carbon fibre material for cars which would lighten vehicles for better fuel efficiency. [ID:nT313639]
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