The Nikkei index increased by 1%, reaching 68,438.17 points, following the positive trend from Wall Street overnight. A chief technical analyst at IG, Axel Rudolph, noted in an email that the weak U.S. inflation figures "have virtually eliminated the possibility of a Federal Reserve rate hike in July, boosting equity markets and reinforcing the rationale for policymakers to keep interest rates steady over the summer months." Among the top performers within the Japanese benchmark index, Kioxia Holdings Corp. saw a rise of 5.5%, Ibiden Co., Ltd. advanced 4.9%, and Taiyo Yuden Co., Ltd. gained 4.5%.
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