Shares in Tokyo closed higher for a fourth straight day this morning, with the banking stocks again spearheading the gains. Computer stocks and drugmakers also rose amid sustained heavy buying fuelled by the brightening outlook for the Japanese and global economies. The blue-chip Nikkei 225 closed up 25.61 points at 10,715.69, well below its intraday peak of 10,813, but off a late session low that saw it dip temporarily into the red.
The broader Topix index gained 4.37 points to 1,03.28. The financial sector remained in focus following a report yesterday from Goldman Sachs recommending the banks as bad loans are reduced. Mizuho, Japan's largest bank by assets, surged 11pc, with Sumitomo Mitsui Financial Group up 7pc and UFJ Holdings rising 4.2pc. In the PC sector, Goldman Sachs lifted Dell, citing the company's growth prospects and valuation, which prompted buying in the tech sector. Shares in Hitachi, NEC and Sony all benefited. //www.fxcentre.com