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Market turbulence poses first serious test for Abenomics

This week's turbulence in Tokyo markets exposes a key risk of Prime Minister Shinzo Abe's all-in strategy to revive Japan's economy - if investor confidence falters, the government and the Bank of Japan may be left with few options to turn the tide.On Friday, the Nikkei share average <.N225> had another tumultuous session, traversing a 7.1 percent range between positive and negative territory before ending up 0.9 percent.The violent moves kept investors on edge after a 7.3-percent slide on Thursday, the sharpest drop for the Japanese stock market since the 2011 earthquake and tsunami.At the same time, the 10-year-bond yield, a key interest rate linked to home mortgages and business loans, has almost tripled from the 0.315 percent record low it plumbed in early April just after the central bank announced its plans for a massive increase in asset purchases.The wild market gyrations represent the first serious test for Abe, who has become a popular figure at home and on Wall Street for pr...

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