LOS ANGELES (MarketWatch) -- Japanese stocks rose in early trade, with banks tracking overnight gains in U.S. financials. The Nikkei Stock Average rose 0.3% to 9,828.71, while the Topix added 0.5% to 847.78. Among the financials leading the gains, Mitsubishi UFJ Financial Group Inc. climbed 1.8%, Sumitomo Mitsui Financial Group Inc. advanced 1.2%, Shinsei Bank Ltd. gained 2.5%, and Tokyo-listed shares of Citigroup Inc. were up 2.9% after the lender's U.S. stock ended 3.4% higher. Meanwhile, stock in Sony Corp. rose 1.5% after the firm announced a management shake-up in its electronic games unit.
Tax breaks for the wealthy, corporate jet owners, hedge-fund managers and oil and gas companies — all should be scrapped to help reduce the deficit, President Barack Obama says.
Stocks extend their winning run to a third straight day as Greece approves debt-reduction measures and Wall Street preps for closing the books on the second quarter.
The second quarter was another hot season for initial public offerings in the U.S., with proceeds more than double the amount raised the same time last year, according to the latest report from PricewaterhouseCoopers LLP.
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