Around the World's Markets: Tokyo

THE BENCHMARK Nikkei average posted moderate gains yesterday as hopes that more Japanese banks would apply for public funds to reinforce their capital bases sparked a rally in the banking sector. However, concern remained that the leading exporters may cut their earnings forecasts owing to the strengthening of the yen against the dollar.

The 225-share Nikkei index rose 152.65 points or 1.13 per cent to close at 13,668.72, ending a four-day losing streak. December Nikkei futures finished 160 higher at 13,720.