FX.co ★ Japanese Shares Track Wall Street Gains

The Nikkei 225 Index saw an increase of 1.3%, surpassing the 45,600 mark, while the broader Topix Index rose by 0.8% to 3,173 on Monday. This movement reversed the losses experienced in the previous session and reflected the rally on Wall Street, which propelled U.S. benchmarks to new record levels. The upward trend came on the heels of the U.S. Federal Reserve's anticipated quarter-point interest rate cut, marking its first reduction since December, accompanied by guidance suggesting two more cuts may occur this year. Domestically, the Bank of Japan maintained its policy rate at 0.5% for the fifth consecutive meeting, as expected, and unanimously approved plans to begin the sale of its holdings in exchange-traded funds (ETFs) and Japanese real estate investment trusts (J-REITs). Leading the gains were technology stocks, with Lasertec soaring 9.9%, Advantest rising 3.5%, and Tokyo Electron increasing 3.6%. Other major companies also saw growth, including Fujikura at 1.8%, Nintendo at 3.2%, and Mitsubishi Heavy Industries at 1.6%.