Nikkei ends 3-day losing streak as banking stocks rise

Japanese banking stocks closed higher on Wednesday, helping the Nikkei index end a three-day losing streak, as markets regained some calm after investor fears of spillovers from the Silicon Valley bank collapse subsided.

The Tokyo Stock Exchange’s banking index rose 3.3 percent, led by shares of Suruga and Shimane Banks, which rose more than 5 percent each.

The performance of the index during the session was volatile, but it recovered in the last 15 minutes of trading to close at 27,229.48 points.

The index has fallen over the past three days by nearly 5 percent.

The broader Topix index, which is more affected by bank stocks, rose 0.7 percent to 1,960.12 points.