The Nikkei 225 index jumped 1.21% to close at 39,849 while the broader Topix index jumped 0.86% to 2,773 on Thursday, with Japanese shares hitting a multi-month high and tracking a rally on Wall Street overnight after U.S. inflation data appeared to pave the way for a Federal Reserve interest rate cut. Markets are now pricing in a near 100% chance that the Fed will deliver another 25 basis point cut next week. Meanwhile, the outlook for Bank of Japan monetary policy remains highly uncertain, with markets divided over whether the central bank will raise rates again in December or January. All sectors contributed to the gains, with strong gains from index heavyweights such as Fujikura (2.6%), Disco (1.5%), Advantest (5.1%), SoftBank Group (1.9%) and Sony Group (3%).
Source: Trading Economics
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