Japanese shares rise as Fed rescue programme lifts bank stocks [Reuters]
Sumitomo Mitsui Financial Group Inc Unsponsored American Depositary Shares (Japan) (SMFG)
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Source: Reuters
Japanese shares rise as Fed rescue programme lifts bank stocks SYDNEY, April 10 (Reuters) - Japanese shares settled higher on Friday, with bank stocks leading the gains on a $2.3 trillion programme by the U.S. Federal Reserve to support local governments and businesses, but trading was lacklustre due to the Easter holidays overseas. The benchmark Nikkei average reversed early losses to close up 0.8% at 19,498.50, its best finish since March 25, tracking overnight gains on Wall Street. The Dow Jones Industrial Average rose 1.2%, the S&P 500 gained 1.5% and the Nasdaq Composite added 0.8% on Thursday. For the week, the Nikkei was up 9.4%, its second biggest gain since December 2009. The broader Topix added 0.9% to 1,430.04, with all but six of the 33 sector sub-indexes on the exchange finishing in positive territory. The banking sector was the top performer, up 3.6%, in line with its U.S. peers after the Fed pledged a “whatever-it-takes” approach to keep credit flowing to businesses and
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