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Felicia Tan
June 26 20:07

Japan shares show positive dynamics thanks to the banking sector

Japanese stocks recovered on Friday following Wall Street's rise the day before, with the banking sector leading the rally in both markets after the U.S. regulators decided to soften some of the rules.
The Nikkei index rose by 1.1% to 22.512.08 points, retreating from the previous session's closing low of a week and a half. Over the week, the index added 0.1%.
Wider Topix index rose by 1% to 1.577.37 points, with all 33 sub-indexes of the Tokyo Stock Exchange, except for three, completed the session on a positive territory.
Shares of banks traded on the Tokyo Stock Exchange rose: securities of Mitsubishi UFJ Financial Group (MUFG) Inc, Sumitomo Mitsui Financial Group (SMFG) Inc and Mizuho Financial Group Inc rose by 1.3-1.7%.
SoftBank Group Corp's heavyweight papers gained 3% as the technology conglomerate announced a buy-back of up to 5.75% of its 500 billion yen ($4.7 billion) shares by March 31, 2021 after the session closed on Thursday.
($1 = 107,1700 yen)