Nikkei up 370 points as bank stocks rebound

The Nikkei 225 index has closed at 10,573.09, up 370

The Nikkei 225 index has closed at 10,573.09, up 370.46 points, led by a sharp rebound in banking stocks after the Financial Services Agency introduced tighter short-selling rules.

The dollar was at 134.42 yen in Tokyo trading, down from 134.64 in late New York trading; and at 0.8646 against the euro, compared with 0.8634 in New York.

Government bond yields were higher, with the yield on the No 237 10-year issue at 1.56 per cent, up from 1.55 per cent yesterday; while the No 236 issue was at 1.535%, compared with 1.52per cent previously.

The US 4-7/8 per cent 10-year note was at 199-19/32, yielding 4.925 per cent, unchanged from late New York trading.

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AP