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Japan leads Asia markets higher; Nintendo rallies after Saudi fund reportedly looks to raise stake

Mario poses at the "SUPER NINTENDO WORLD" welcome celebration at Universal Studios Hollywood on February 16, 2023 in Universal City, California.

Asia-Pacific markets mostly climbed on Monday, led by Japan's Nikkei 225 rising almost 2% as investors look ahead to a week of central bank decisions from around the region.

The Nikkei climbed 1.8%, powered by financials and consumer cyclical stocks, and closed at 39,332.74. Mizuho Financial Group and Nikon were among top gainers on the index.

The yen strengthened 0.15% to trade at 148.46 after hitting its weakest level in over two months earlier in the session. The dollar gained after a strong U.S. jobs report on Friday, which also reduced expectations that the Federal Reserve would need another 50-basis-pont rate cut.

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