Japan's Machinery Orders Rebound Strongly, Kubota Soars (KUB)

Japan's machinery orders increased by 10.8% in April versus a 5.2% drop in March and was the fastest rise in nearly three years. This caused the ordinary shares of Kubota Corp (KUB) to surge 8.29% to 1,006 yen ($8.88 or $44.40 at its 1:5 ADR to ordinary share listing ratio) in heavier than usual trading. Kubota's ADRs closed yesterday at $41.25.

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