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Japanese stocks track U.S. shares higher; banks up

LOS ANGELES (MarketWatch) — Japanese stocks rose in early Wednesday trading, as banks gained in tandem with their U.S. peers and select tech shares also moved higher. The Nikkei Stock Average


/quotes/zigman/5986735 JP:NIK
+0.41%



added 0.7% to 9,788.37 in the early minutes, while the Topix rose 0.8%. Upbeat data in the U.S. helped bank shares there, along with more optimism over Europe helped support Japanese financials, with Mitsubishi UFJ Financial Group Inc.


/quotes/zigman/267078 JP:8306
-0.24%






/quotes/zigman/392753/quotes/nls/mtu MTU
-2.67%



climbing 1.7%, Mizuho Financial Group Inc.


/quotes/zigman/317735 JP:8411
-0.74%






/quotes/zigman/1500746/quotes/nls/mfg MFG
-1.49%



up 2.2%, and Resona Holdings Inc.


/quotes/zigman/292482 JP:8308
+0.26%






/quotes/zigman/292488 RSNHF
+1.62%



adding 1.3%. Shares of Panasonic Corp.


/quotes/zigman/194943 JP:6752
+0.79%






/quotes/zigman/525474/quotes/nls/pc PC
-0.53%



gained 2.5% announcing a new president in an effort to return to profitability. Shares of Elpida Memory Inc.


/quotes/zigman/358237 JP:6665
+14.29%






/quotes/zigman/358241 ELPDF
+1.92%



remained ask-only for a second day after the firm filed for bankruptcy protection late Monday. But Advantest Corp.


/quotes/zigman/191696 JP:6857
-2.97%






/quotes/zigman/191701 ADTTF
+6.54%



and Renesas Electronics Corp.


/quotes/zigman/326601 JP:6723
-0.72%






/quotes/zigman/593649 RNECY
-9.87%



, which had taken hits to their share prices after the Elpida bankruptcy, saw gains Wednesday, rising 3.6% and 1.5%, respectively.

/quotes/zigman/5986735



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