21 May 2004, 10:16  Tokyo's Nikkei ends up nearly 2%, banks jump

Japan's Nikkei average closed up nearly two percent on Friday as a late rally buoyed exporters and technology stocks, while banks and retailers received a lift from renewed optimism over the country's economic recovery. All of Japan's "big four" banks advanced, with UFJ Holdings Inc <8307.T> jumping over three percent after it said it would brief about the management integration of UFJ Trust Bank and Sumitomo Trust & Banking Co Ltd <8403.T> later in the day. Companies with solid earnings, such as steel maker JFE Holdings Inc <5411.T>, also drew active buying. The Nikkei <.N225> jumped 1.92 percent to 11,070.25, bouncing back from Thursday's 0.96 percent fall. The broader TOPIX index <.TOPX> ended up 1.84 percent at 1,125.21.|||

© 1999-2024 Forex EuroClub
All rights reserved