Banks Lead Asian Stock Rally

The Nikkei stock average soared 4.6% today to close at a 6-month high, leading a rally across Asia. Banking stocks led advances as worries about the US financial system abated, with Mitsubishi UFJ jumping more than 15%. Markets in London, Paris and Frankfurt all opened in positive territory and banks performed well. UBS rose 3.2%, and Barclays jumped nearly 5%.
(More Nikkei stories.)