ReutersJapan's Nikkei closed at a two-week high on Wednesday, tracking Wall Street's gains as cooler-than-expected U.S. inflation data raised expectation that the Federal Reserve could soften its interest rate hike stance.
The Nikkei share average rose 0.72% to 28,156.21, its highest close since Dec. 1. The broader Topix advanced 0.6% to 1,977.42.
U.S. stocks rose overnight after an unexpectedly small consumer price increase buoyed optimism that the Fed could soon dial back its inflation-taming interest rate hikes.
"Investors were relieved after a slower pace of U.S. inflation," said Shoichi Arisawa, general manager of the investment research department at IwaiCosmo Securities.
"But they are still cautious ahead of the FOMC (Federal Open Market Committee) outcome, which could turn the market's course."
Technology heavyweights led the Nikkei higher, with chip making equipment maker Tokyo Electron rising 1.9% to provide the biggest boost to the index.
Wafer maker Shin-Esu Chemical gained 3.01%, while air-conditioning maker Daikin Industries rose 1.18%.
Toray Industries, a leading producer of carbon fibre materials for aircraft, jumped 6.95% as United Airlines made a big Boeing order, including 100 Dreamliners.
Toray helped textiles makers rise 2.96% and become the top gainer among the Tokyo Stock Exchange's 33 industry sub-indexes.
Once bankrupt Skymark Airlines opened 8.7% higher than its initial offering price after being relisted on the exchange. It ended at 1,277 yen, 0.4% higher than its opening price.
The airline sector was the biggest loser among the exchange's industry groups, with a drop of 0.9%.
The Nikkei share average rose 0.72% to 28,156.21, its highest close since Dec. 1. The broader Topix advanced 0.6% to 1,977.42.
U.S. stocks rose overnight after an unexpectedly small consumer price increase buoyed optimism that the Fed could soon dial back its inflation-taming interest rate hikes.
"Investors were relieved after a slower pace of U.S. inflation," said Shoichi Arisawa, general manager of the investment research department at IwaiCosmo Securities.
"But they are still cautious ahead of the FOMC (Federal Open Market Committee) outcome, which could turn the market's course."
Technology heavyweights led the Nikkei higher, with chip making equipment maker Tokyo Electron rising 1.9% to provide the biggest boost to the index.
Wafer maker Shin-Esu Chemical gained 3.01%, while air-conditioning maker Daikin Industries rose 1.18%.
Toray Industries, a leading producer of carbon fibre materials for aircraft, jumped 6.95% as United Airlines made a big Boeing order, including 100 Dreamliners.
Toray helped textiles makers rise 2.96% and become the top gainer among the Tokyo Stock Exchange's 33 industry sub-indexes.
Once bankrupt Skymark Airlines opened 8.7% higher than its initial offering price after being relisted on the exchange. It ended at 1,277 yen, 0.4% higher than its opening price.
The airline sector was the biggest loser among the exchange's industry groups, with a drop of 0.9%.
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