The Nikkei 225 Index climbed 0.5% to around 38,400 while the broader Topix Index gained 0.2% to 2,791 on Wednesday, with Japanese shares rising for the fourth straight session as signs of progress in US-China trade talks supported market sentiment.
US Commerce Secretary Howard Lutnick said that two sides have reached a framework to implement the Geneva consensus and the call between their respective presidents. On the domestic front, Japan's producer prices rose 3.2% year-on-year in May, the slowest pace in eight months, easing some inflation concerns.
Meanwhile, Bank of Japan Governor Kazuo Ueda reiterated on Tuesday that the central bank remains prepared to raise interest rates again, provided there is sufficient confidence that core inflation will sustainably reach around 2%. Technology stocks led the rally, with notable gains from Advantest (+3.2%), Disco (+2.2%), Lasertec (+3.4%), Tokyo Electron (+2.6%), and SoftBank Group (+1.9%).
Source: Trading Economics
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