Around the World's Markets: Tokyo

Click to follow
The Independent Online
HOPES FOR a further shake-up in banking stocks boosted blue chip stocks in Tokyo, with the Nikkei 225 closing up 1.6 per cent at 14,245.4. Trading was also helped by the news that Mitsubishi Chemical and Tokyo Tanabe are to merge and that Mitsui Trust & Banking and Chuo Holdings were in talks.

"Pension funds and foreigners are increasingly buying shares in the hope that Japan's banking system will be stabilised due to more public fund injections and a drastic shake-up," said Kazue Mayuzumi at Nikko Securities.

Comments