June 26, 2013 / 12:10 AM / in 4 years

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
    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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