ID:nL4N0V721O Mitsubishi UFJ 8306.T rose 5.2 percent while rival SMFG 8316.T gained 2.7 percent. The Tokyo Stock Exchange's banking shares subindex .IBNKS.T rose 3.6 percent. "Big profits at banks are boosting expectations that banks will lift shareholder returns," said Toshiyuki Kanayama, market analyst at Monex Securities. Although a sudden jump in Japanese bond yields triggered some selling in domestic shares on Tuesday, higher long-term bond yields are also seen boosting the revenue of lenders in the longer run. That scenario benefits insurers, which invest a big part of their portfolio in domestic bonds. The TSE's insurance companies subindex rose 3.6 percent .IINSU.T, with Dai-ichi Life 8750.T up 4.8 percent.