Japanese stocks extend gains after U.S. rally

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Japanese stocks extend gains after U.S. rally
LOS ANGELES (MarketWatch) -- Japanese stocks rose out of the open, tracking an overnight rally on Wall Street and extending sharp gains from the previous session. The Nikkei Stock Average rose 1.5% to 9,058.59, regaining the 9,000 level amid a broad-based rally. The Topix added 1.8%. Notable gainers included tech shares and banks. Shrugging off a strong yen, Sony Corp. rose 2.9%, Elpida Memory Inc. rose 4.4%, and Sharp Corp. jumped 4.9%, as a European deal on Greek bonds and a rise in U.S. economic growth overcame Sharp's posting of a fiscal first-half loss late Thursday. Among financials, Mitsubishi UFJ Financial Group Inc. rose 2.6%, Mizuho Financial Group Inc. added 2.7%, and Nomura Holdings Inc. traded 4.5% higher.