Tokyo stocks gain on hopes for slowing U.S. rate hikes
Tokyo stocks advanced Wednesday as weaker-than-expected U.S. inflation data sparked optimism that the Federal Reserve will slow down its interest rate hikes and prevent a recession in the country’s economy, although the rise was capped by a firm yen.
The 225-issue Nikkei Stock Average ended up 201.36 points, or 0.72 percent, from Tuesday at 28,156.21. The broader Topix index finished 11.74 points, or 0.60 percent, higher at 1,977.42.
On the top-tier Prime Market, gainers were led by textile and apparel, mining, and precision instrument issues.