Japanese Shares Track Wall Street Higher

The Nikkei 225 Index jumped 3.3% to above 66,000, while the broader Topix Index advanced 1.2% to 4,009 on Wednesday, extending gains from the previous session as Japanese equities followed Wall Street higher after the Dow and S&P 500 closed at fresh record highs. Global market sentiment was also lifted by a sharp drop in oil prices amid rising optimism over an interim agreement between the US and Iran to reopen the Strait of Hormuz. Domestically, data showed real wages increased for a sixth consecutive month in June, reinforcing the case for additional Bank of Japan interest rate hikes. Technology stocks led the rally, with Kioxia Holdings climbing 7.4%, Ibiden Co gaining 5.1%, Advantest rising 5.7%, Lasertec adding 4.2%, and SoftBank Group jumping 7.8%. Other heavyweight stocks also posted solid gains, including JX Advanced Metals (3.8%), Mizuho Financial (1.7%), and Sony Group (2.7%).


