Monday is shaping up very nice.
Fez
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Sunday November 15, 7:30 pm Eastern Time
Tokyo stocks open higher, supported by bank sector
TOKYO, Nov 16 (Reuters) - Tokyo stocks gained ground in early morning trade on Monday, supported by a rise in the banking sector, traders said.
News on Sunday that Sumitomo Bank Ltd was considering applying for an injection of public funds of about 400 billion to 500 billon yen and also carrying out reforms raised hopes that the bank's plans would prompt other banks' restructuring, they said.
In the first 10 minutes of trade, the Nikkei 225 average was up 172.80 points or 1.21 percent at 14,441.01.
Nikkei December futures were up 70 points at 14,390.
The Japanese government will announce on Monday an economic stimulus package, which is expected to top 20 trillion yen, but the stock market has factored in the expected contents, traders said.
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