Topix rose 1.2% to 4,009, with Japanese equities buoyed by Wall Street records, lower oil prices and stronger wage data that may support further Bank of Japan tightening.
Japan's Nikkei 225 Index climbed 3.3% to above 66,000 on Wednesday, while the broader Topix Index gained 1.2% to 4,009, extending the previous session's advance as local shares tracked Wall Street higher after the Dow and S&P 500 finished at fresh record highs. Risk appetite was also supported by a sharp fall in oil prices as optimism grew over an interim agreement between the US and Iran to reopen the Strait of Hormuz. At home, real wages rose for a sixth straight month in June, strengthening the case for additional Bank of Japan interest rate hikes. Technology shares drove the move, with Kioxia Holdings up 7.4%, Ibiden Co up 5.1%, Advantest up 5.7%, Lasertec up 4.2% and SoftBank Group up 7.8%. Other major stocks also advanced, including JX Advanced Metals at 3.8%, Mizuho Financial at 1.7% and Sony Group at 2.7%.