Japan’s Nikkei Gains for Second Straight Week as Banks, Shippers Climb

TOKYO, Dec 22 (Reuters) – Japan’s Nikkei share average booked a second weekly advance, helped by an overnight Wall Street rebound after U.S. data offered more evidence of a “soft landing” in the world’s largest economy.

The Nikkei finished 0.09% higher at 33,169.05 on Friday, registering a 0.6% rise for the week.

The index had climbed 0.71% earlier in the day as chip shares tracked a rally in their U.S. peers, but those gains quickly evaporated.

Tokyo Electron, which had risen as much as 2%, ended 0.83% higher, while Advantest swung from a 1.9% jump to close down 1.07%.

Bank stocks, however, built on gains through the day as they recovered from losses brought on by the Bank of Japan’s decision to keep yield-suppressing stimulus in place while offering no hints on the timing of an exit.

The Tokyo Stock Exchange’s banking index rallied…