Around the World's Markets: Tokyo

THE JAPANESE government's plans to recapitalise 15 commercial banks and inject the equivalent of $65bn to help them write off bad debts had more effect on the Tokyo market than the Bank of Japan's move last week to ease credit.

Bank shares led the way as the Nikkei 225 index rose 0.5 per cent or 75.50 to 14,049.19.

The banking sub-index gained over 1 per cent, while a shipping stock, Nippon Yusen, rose 30 yen to 379 yen.