Nikkei ends nearly flat as banks snapped up despite crisis fears

The Nikkei index ended almost flat after volatile trading near the close on Wednesday as worries about contagion from U.S. bank failures were overcome by the buying of bank shares that had been beaten down in recent selloffs.

The 225-issue Nikkei Stock Average ended up 7.44 points, or 0.03 percent, from Tuesday at 27,229.48. The broader Topix index finished 12.58 points, or 0.65 percent, higher at 1,960.12.

Gainers were led by bank, insurance and mining shares, while decliners included information and communication, land transportation and rubber product issues.