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TOKYO, March 11, 2009 (AFP) - Japanese share prices jumped nearly four percent in early trade Wednesday, boosted by strong gains on Wall Street, dealers said.
At 10:20 am (0120 GMT), the benchmark Nikkei-225 index had gained 275.82 points, or 3.91 percent, to 7,330.80.
The strong rebound came after US shares rallied overnight on a surprise announcement that troubled banking giant Citigroup was profitable in January and February, enjoying its best quarter-to-date performance since the third quarter of 2007.
The Dow Jones Industrial Average advanced 379.44 points, or 5.80 percent, Tuesday to close at 6,926.49.
'Buying sentiment returned to the market as investors were encouraged by a gain on Wall Street,' said Hirokazu Fujiki, an analyst at Okasan Securities.
'Some players regard Japanese shares as a good bargain right now as they have declined more sharply than stocks in other major countries,' Fujiki said.
'However, we need additional positive materials to see a further gain.'
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