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Nikkei up 1.1 pct, worries eased by U.S. move
Sun Jul 13, 2008 10:10pm EDT

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TOKYO, July 14 (Reuters) - The Nikkei stock average rose 1.1 percent on Monday, led higher by bank stocks on investor relief after the U.S. government unveiled measures to help troubled home financing providers.

Japan's top lender Mitsubishi UFJ Financial Group (8306.T: Quote, Profile, Research, Stock Buzz) and other banks rose sharply after the U.S. Treasury and Federal Reserve unveiled sweeping steps to support Fannie Mae (FNM.N: Quote, Profile, Research, Stock Buzz) and Freddie Mac (FRE.N: Quote, Profile, Research, Stock Buzz) if needed to bolster confidence in the troubled mortgage financing giants. [ID:nN13387357]

The benchmark Nikkei .N225 ended the morning up 146.21 points at 13,185.90. The broader Topix gained 1.3 percent to 1,302.79.


http://www.reuters.com/article/marketsNews/idCAT15818920080714?rpc=44