close Japanese Nikkei index At its highest level in two weeks, today, Wednesday, and followed in the footsteps of Wall Street’s gains, as lower-than-expected US inflation data reinforced expectations that the Federal Reserve (US central bank) may ease the pace of interest rate hikes.
The Nikkei index rose 0.72% to 28,156.21 points, its highest closing level since December 1. The broader Topix index rose 0.6% to 1977.42.
US stocks rose overnight following an unexpectedly small increase in consumer prices boosted optimism that the Federal Reserve will soon reverse its interest rate hike decisions to curb inflation.
Big tech companies led the Nikkei index higher, and chipmaker Tokyo Electron Co rose 1.9%, giving the index the biggest boost.
The aviation sector was the biggest loser among the industrial groups on the stock exchange, as it fell 0.9%.
