FX.co ★ Japanese Shares Rise for Second Day

On Thursday, the Nikkei 225 Index experienced a 0.7% increase, reaching approximately 48,000, while the wider Topix Index climbed 0.8% to 3,210. These gains built upon the previous session’s upward trend, as investors navigated political uncertainty in Japan, buoyed by a robust earnings season. The ruling Liberal Democratic Party suggested an October 21 vote for a new prime minister; however, with opposition parties yet to confirm the date, the outlook remains unclear for LDP's Sanae Takaichi. Investor sentiment was further enhanced by a strong start to the earnings season, driven by expectations of rate cuts in the US and sustained demand for artificial intelligence. Noteworthy stock performers included SoftBank Group, up 4.8%, Kioxia Holdings, rising 6.8%, Mitsubishi Heavy Industries, gaining 3.2%, Tokyo Electron, up 3.1%, and Fujikura, with a 2.4% rise.