MW: Tokyo stocks pare losses as banks aided by Citi report
Japanese shares came off their early lows Monday as banking stocks were aided by news Citigroup was in talks federal officials for the U.S. government to expand ownership of the banking giant. The Nikkei 225 Average, which dropped more than 2% in early trading, was down 0.2% at 7,398.84 by the end of the morning session, while the broader Topix index also pared losses and was down 0.3% at 737.03. Shares of Mitsubishi UFJ Financial Group rebounded from steep initial losses, was up 0.7%, while Nomura Holdings bounced 3.6%. Tokyo-traded shares of Citigroup, which plunged 17.5% earlier in the day, were recently 10.9% lower.
