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The Independent Online

FRIDAY'S record high on Wall Street helped the benchmark Nikkei 225 overcome profit-taking to close up 30 points at 16,977. Banks gained, with Daiwa climbing 11 per cent and Mitsui Trust up 6 per cent. Hi-tech shares were lacklustre, although Canon and Fuji benefited from the weaker yen, each gaining 2 per cent.

Traders said the market was propped up by expectations that Japan would have to introduce a supplementary budget this year, adding there would have to be solid news on a stimulus package before the Nikkei made any dramatic gains.