Markets head higher on bank news

NEW YORK, March 17 (UPI) -- Equity markets in New York and Asia headed higher Wednesday after central banks in Washington and Japan left bank lending rates unchanged.

The U.S. Federal Reserve Tuesday left its lending rate at zero to 0.25 percent. On Wednesday, the Bank of Japan said its key lending rate would stay at 0.1 percent. The BOJ also said it would double a lending program that began in December to add liquidity to financial markets.

By close, the Dow Jones industrial average added 47.69 points or 0.45 percent to 10,733.67. The Standard & Poor's 500 index gained 6.75 points, or 0.58 percent, to 1,166.21. The Nasdaq composite index of tech-dominated stock rose 11.08 points, or 0.47 percent, to 2,389.09.

Cisco Systems Inc. led the Dow with a gain of 1.42 percent. Bank of America Corp., close behind, added 1.41 percent.

On the New York Stock Exchange, 2,161 shares advanced and 886 declined on a volume of 4.9 billion shares traded.

In Asia, the Nikkei 225 index in Japan rose 1.17 percent, 125.27 points, to 10,846.98. The Shanghai composite index in China added 1.93 percent to 3,050.48. The Hang Seng in Hong Kong gained 1.72 percent to 21,384.49. In Europe, the FTSE rose 24.20 or 0.43 percent to 5,644.63.

The benchmark 10-year U.S. Treasury note rose 3/32 to yield 3.642 percent.

The euro fell to $1.3737 from Tuesday's $1.3777. Against the yen, the dollar rose to 90.32 yen from Tuesday's 90.24 yen.