Japan’s Nikkei 225 opens up

The Nikkei 225 opened up 2.72 per cent in early trading in Tokyo to hit 9,206.75. The positive reaction followed news yesterday the Japanese government plans to dedicate up to 10 trillion yen (£78bn) in crisis lending to businesses to help them finance day-to-day operations and repair damage from last week’s deadly earthquake and tsunami. The government can provide special financing in the form of low-interest loans or interest payment subsidies backed by public funds when a natural disaster or other event triggers major economic instability.