Tokyo stocks surge in morning as U.S. financial fears ease

Tokyo stocks surged Wednesday morning, led by bank-related stocks as fears eased over the U.S. financial sector after Treasury Secretary Janet Yellen indicated the government is prepared to protect deposits following the failure of two banks. The 225-issue Nikkei Stock Average rose 514.10 points, or 1.91 percent, from Monday to 27,459.77. The broader Topix index was up 35.07 points, or 1.82 percent, at 1,964.37. Japanese financial markets were closed Tuesday due to a public holiday. All industry categories except air transportation issues gained, led by consumer credit, securities house and ba...