The Nikkei 225 Index climbed 2.1% to move above 55,000, while the broader Topix Index advanced 1.6% to 3,723 on Wednesday, marking a second consecutive session of gains. The rally came as falling oil prices eased worries about a renewed inflation surge and improved risk appetite.
Crude prices extended their decline after the International Energy Agency proposed the largest release of oil reserves in its history, exceeding the 182 million barrels the agency released in 2022 following Russia’s invasion of Ukraine.
Japanese technology stocks led the market higher after Oracle shares jumped nearly 9% in extended US trading on the back of strong revenue, lifting sentiment across the artificial intelligence sector. Standout performers included Kioxia Holdings (up 6.3%), SoftBank Group (up 5%), and Fujikura (up 4.8%).
Nintendo also gained 6% after filing a formal complaint in the US seeking refunds for tariffs it claims were improperly collected. Elsewhere, Japan Display surged another 30% on reports that the US and Japan are considering plans to build a display factory in the United States.
