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TOKYO (AP) - Japan's ruling and opposition parties haggled Monday over who should replace the outgoing central bank chief, deepening a stalemate over a key financial position even as concerns over the economy battered Tokyo stocks.
With just two days left until Toshihiko Fukui's term as Bank of Japan governor expires, the impasse between the two camps was an embarrassment to the Japanese government amid mounting concerns over a global economic slowdown.
Shares across Asia fell sharply Monday, with the Nikkei 225 Stock Average dropping 454.09 points, or 3.71 percent, to 11,787.51 on the Tokyo Stock Exchange. Also, the dollar nose-dived to a 12 1/2-year low against the yen, prompting traders to offload stock in exporting companies such as Toyota Motor Corp. and Sony Corp.
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