Current Exchange Rate, JPY 1 = 0.0121 USD
NEW YORK - Japan's Nikkei rose on Thursday but shares of Tokyo Electric which initially gained, stumbled near the end of the trading session. The stock was up over 12% in early morning trade. Traders were buying the stock based on speculation that someone had bought 2.5% of the company's outstanding stock.
Tepco's has been troubled since March 11, when an earthquake and tsunami knocked out the cooling system at the company's Fukushima Power Plant, which has led to 3 of the 6 reactors at the plant suffering partial meltdowns.
Radiation levels have been found to be 100,000 times above normal levels in some areas, as Tepco's future remains between Fukushima and the Government of Japan
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