Tokyo: Japan's Nikkei index rose to its highest level in more than a year, supported by gains in automakers, while government bonds fell after Tokyo reached a trade agreement with Washington.
The 225-issue Nikkei Stock Average advanced 1,396.40 points, or 3.51 percent, from Tuesday to 41,171.32, its highest level since July 16, 2024.
The broader Topix index finished 90.19 points, or 3.18 percent, higher at 2,926.38.
On the exchange rate front, the US currency fell against its Japanese counterpart by approximately 0.12 percent to 146.82 yen in morning trading, while the yield on 10-year Japanese government bonds rose by approximately 8 basis points to 1.590 percent.
The agreement between Tokyo and Washington reduced tariffs on Japanese cars, which account for more than a quarter of Japan's exports to the US, to 15 percent from 25 percent, prompting gains in auto sector shares, with Toyota shares jumping 14.34 percent, Honda shares rising 11.15 percent, Nissan shares rising 8.28 percent, and Mazda shares rising 17.75 percent.
