Nikkei rebounds on China liquidity support, Wall St rise
TOKYO, April 26 (Reuters) - Japan's Nikkei share average bounced on Wednesday after China took steps to allay fears of a credit crunch, while sentiment also got a boost from robust U.S. data and gains on Wall Street overnight. The benchmark Nikkei was up 1.6 percent at 13,171.18, while the broader Topix gained 1.2 percent to 1,092.02. The People's Bank of China (PBOC) said on Tuesday that it had given cash to some institutions facing temporary shortages and would continue to do so if needed, in a bid to further assure markets. Fears that the world's second largest economy was sliding towards a liquidity crisis sent the Tokyo market down on Monday and Tuesday. U.S. stocks rose by the most in nearly two weeks on Tuesday after data showed business investment and the housing recovery continued apace, reassuring investors worried about the Federal Reserve's plans to reduce its massive monetary stimulus.
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