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Panasonic shares soar 16% after return to profit

Published on Feb 5, 2014 9:21 AM
 
Panasonic shares rocketed 16 per cent after the struggling Japanese electronics giant said it swung into the black for the April-December period with a US$2.4 billion (S$15.7 billion) profit. -- FILE PHOTO: AFP

TOKYO (AFP) - Panasonic shares rocketed 16 per cent after the struggling Japanese electronics giant said it swung into the black for the April-December period with a US$2.4 billion (S$15.7 billion) profit.

The Tokyo-listed shares soared to 1,230 yen, following the announcement after markets closed on Tuesday, when the company's shares had dived almost 7 per cent in a broader market sell-off.