Japan's Nikkei trims losses after Credit Suisse liquidity measures

Japan's Nikkei share average trimmed losses on Thursday, in another volatile session, after embattled Swiss lender Credit Suisse announced plans to strengthen its cash position.

The week has seen wild swings in Japanese banks, causing the Nikkei to fall below 27,000 for the first time since Jan. 23, on fears of contagion from the Silicon Valley Bank meltdown and Credit Suisse's woes. The Nikkei was last down 1.2%.

Credit Suisse on Thursday said it was taking "decisive action" to strengthen its liquidity by exercising its option to borrow from the Swiss National Bank up to 50 billion Swiss francs ($54 billion).