Bank stocks including Resona Holdings rose further in the afternoon session. Buying in bank stocks prevailed in the market following reports that the government was signaling an intention to direct the Bank of Japan to raise interest rates early.
Bank stocks, led by Resona Holdings, rebounded in the afternoon session, strengthening sentiment toward the financial sector.
Reports circulated that the government was signaling an intention to direct the Bank of Japan to raise interest rates early, prompting broader views that concerns over interest-rate developments had eased.
The stocks cited included Resona Holdings, Mitsubishi UFJ Financial Group and Mizuho Financial Group.