Warren Buffett's surprise investment sends stocks in five companies surging

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Warren Buffett's surprise investment sends stocks in five companies surging

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Japanese stocks surged after billionaire Warren Buffett said Berkshire Hathaway would increase its stake in them. In his annual letter to shareholders at the weekend, the 94-year-old said he plans to increase holdings in five Japanese trading houses - Itochu, Marubeni, Mitsubishi, Mitsui and Sumitomo. Shares in the trading houses - which run diverse collections of businesses, much like Berkshire does - were up more than 5 percent Tuesday after Buffett's stamp of approval.
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