Nikkei Achieves Largest Gains in Two Months, Rising 1.9%

Japanese financial stocks joined a global surge on Wednesday, leading the Nikkei index to rise nearly 1.9%, marking its largest gains in two months, closing at 27,466.61 points. Shares of Nomura Holdings and Daiwa Securities both recorded gains of 4.5%, as investors felt reassured by U.S. Treasury Secretary Janet Yellen's affirmations that deposits in small banks will be protected. Financial sector stocks increased by 2.6%, representing the second-best performance on the overall index after the energy sector, which saw its index rise by 2.7%. The broader Topix index climbed 1.7% to 1,962.93 points.