06.11.202500:56:04UTC+00Japanese Shares Rise on Wall Street Boost

The Nikkei 225 Index surged by 1.4% to approximately 50,900, while the more comprehensive Topix Index rose by 1.1% to reach 3,304 on Thursday. This movement followed a rally on Wall Street, which invigorated risk appetite and allowed Japanese stocks to recover losses incurred earlier in the week. U.S. equities saw an upturn on Wednesday as concerns over valuations subsided, bolstered by robust economic data from the United States and mounting anticipation that the Supreme Court might overturn former President Trump's stringent trade policies. Among the top performers in Japan were Fujikura, which increased by 4.2%, Nintendo with a 5.1% rise, Lasertec up by 2.5%, Disco Corp advancing by 3.8%, and Hitachi gaining 3.9%. Conversely, Sanrio Co experienced a significant 14% drop following disappointing quarterly performance. Additionally, Japan's real wages decreased by 1.4% year-on-year, marking the ninth consecutive month of decline, which adds a layer of uncertainty regarding the possibility of further interest rate hikes by the Bank of Japan.