Wall Street gains uplift Japanese stocks
The strong performance of Wall Street markets supported a rise in the Japanese Nikkei index, which increased by 0.86% to reach 64,769.74 points after four consecutive sessions of decline. SoftBank Group's stock surged by 10.28%, while the TOPIX index experienced a slight decrease of 0.18%. The primary reason for the rise was a reduction in expectations of a U.S. interest rate hike, despite the possibility that the Bank of Japan may raise rates to 1.25% later this month, which led to a drop in Japanese government bond yields. Despite these short-term gains, both the Nikkei and TOPIX indices recorded weekly losses of 2.46% and 1.26%, respectively.
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