The Japanese stock market saw an uptick, mirroring gains in the U.S. markets. The TOPIX Index climbed 0.8% to 2,723.48 points, while the Nikkei 225 Index rose 1% to 39,097.50 points. Toyota Motor Corporation (TM, Financial) led the upward momentum with a 2.2% increase, making the largest contribution to the TOPIX Index's rise. Out of the 2,125 stocks in the index, 1,334 advanced, 689 declined, and 102 remained unchanged.
According to Shoji Hirakawa, Chief Global Strategist at Tokai Tokyo Intelligence Lab, recent U.S. inflation data has heightened the likelihood of another interest rate cut by March next year. Such a move is expected to stimulate the U.S. economy, which would also positively impact the Japanese stock market.
