Nikkei rises, led by banks, financials

  • Reuters
  • Stock Market News
Nikkei rises, led by banks, financials

TOKYO, Nov 29 (Reuters) - Japan's Nikkei share average rose on Wednesday as banks and financial shares tracked their U.S. counterparts higher, shrugging off another North Korean missile launch.

The Nikkei .N225 was up 0.4 percent at 22,576.86 points at the end of morning trading.

The broader Topix .TOPX gained 0.7 percent to 1,785.14, while the JPX-Nikkei Index 400 .JPXNK400 also added 0.7 percent to 15,809.76.

Financial and securities shares were among strong gainers, with the banking subindex .IBNKS.T rising 2.2 percent and the insurance subindex .IINSU.T 2.8 percent higher.

The securities subindex .ISECU.T was up 1.8 percent and the financials subindex .IFINS.T rose 1.9 percent.

On Wall Street, all three major indexes logged record closing highs, led by surging financials. .N

In testimony before a Senate committee, Jerome Powell, nominated to replace Janet Yellen as Fed chair, defended the need to potentially lighten regulation on the financial sector. remained intact despite North Korea firing what appeared to be an intercontinental ballistic missile (ICBM) that landed close to Japan. Holdings 8604.T was up 1.9 percent, after Japan's biggest brokerage and investment bank said it would cancel treasury shares worth 4.7 percent of its outstanding shares on Dec. 18 chain MatsumotoKiyoshi Holdings shares 3088.T rose 2.5 percent after a media report that the company will to tie up with insurer Dai-ichi Life Holdings 8750.T to sell insurance products in December.

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