Tokyo: The Nikkei index of Japanese stocks rose today, surpassing a two-day decline, as investor sentiment improved due to expectations of a Federal Reserve interest rate cut and positive sales reports from major retailers. The resurgence comes as a relief to investors after recent market uncertainties.
According to Oman News Agency, the Nikkei 225 experienced fluctuations during the session, initially falling as much as 0.25 percent. However, it managed to recover and ended the day up by 0.3 percent at 42,310.49 points. The broader Topix index also saw gains, increasing by 0.6 percent.
Retail stocks were among the top performers, with Takashimaya shares rising by 3.3 percent, J. Front Retailing gaining 4.3 percent, and Isetan Mitsukoshi advancing 5.9 percent after reporting a reduction in its monthly sales decline.
On the other hand, the biggest losers on the index included online retailer Mercari, which saw its shares drop by 4.8 percent, followed by Furukawa Electric, which declined by 3.4 percent.