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Japan's trade deficit rises to new high

High cost of imports from weak yen more than offsets lower-than-expected exports

JAPAN logged a record trade deficit of nearly 11.5 trillion yen (S$143 billion) last year, as the surging cost of imports arising from a sharp drop in the yen's value more than overwhelmed the benefits of its rising exports on the back of the weaker currency.

The deficit, two-thirds...