Nikkei Climbs as Soft US Jobs Data Fuels Fed Cut Expectations
Japanese shares rose on Wednesday, tracking Wall Street gains, as traders bet U.S. labor market weakness would prompt a Federal Reserve rate cut next week.
The Nikkei 225 rose 0.87%, or 378.38 points, to end at 43,837.67.
Traders see a Fed rate cut next Wednesday as certain, with 7% odds on a half-point move, CME's FedWatch Tool showed. A week ago, markets still saw a chance of no cut, but weak payrolls shifted expectations.
Producer and consumer inflation data this week are the final tests.
In economic data, Japanese manufacturers' sentiment hit a three-year high in September, lifted by easing trade worries after a US-Japan tariff deal, the Reuters Tankan poll showed.
The index rose to plus 13 from 9 in August, with autos and transport machinery leading gains on strong orders. Sentiment is seen easing to 11 by December. The service-sector index also rebounded to 27 from 24.
On the corporate front, Metaplanet (TYO:3350) raised 212.9 billion yen from an international share offering, with most of the 204.1 billion yen net proceeds earmarked for Bitcoin purchases, a Wednesday filing showed. The firm already holds 20,000 BTC worth 322 billion yen.
Seven Bank (TYO:8410) logged 95.9 million ATM transactions in August, up 4.1% year on year, with average daily use per ATM rising 2.2% to 110.1. Installed ATMs reached 28,201, up 1.8%.
Mitsui & Co. (TYO:8031) will receive a $1 billion dividend from U.S. unit MBK USA Holdings on Sept. 16, to be booked in its fiscal 2026 non-consolidated results.
Source: MT Newswires
