Japanese Shares Track Wall Street Higher

The Nikkei 225 Index climbed 1.4% to above 66,500 while the broader Topix Index advanced 0.5% to 4,095 on Monday, with Japanese equities reaching multi-week highs and following Wall Street higher after weaker-than-expected US jobs data reduced expectations for a near-term Federal Reserve interest rate hike. Investors also remained focused on developments in the Middle East as Iran denied holding direct negotiations with the US, despite Washington’s claims that a deal was close. Domestically, data showed Japan’s current account surplus narrowed in June, as strong exports of AI-related electronics were offset by a rise in imports amid increased crude oil purchases. Technology and AI-linked stocks spearheaded the gains, with Fujikura (5.1%), Furukawa Electric (6.5%), Advantest (3.4%), Ibiden Co (9.3%) and Tokyo Electron (3.2%) posting notable advances.




