Japanese Stocks Rally on Fed Rate Cut Hopes, Nikkei Hits 40,000
Japanese stocks rose tracking Wall Street's gains as hopes of US interest rate cuts solidified and after US and China finalized a trade understanding. The Nikkei benchmark rose past the 40,000 mark for the first time since January.
Hitachi Ltd. contributed the most to the Topix Index gain, increasing 2.4%. Out of 1,682 stocks in the index, 1,315 rose and 273 fell, while 94 were unchanged.
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