The Nikkei Index rose 1% to 68438.17 points, following the overnight gains on Wall Street. IG chief technical analyst Axel Rudolph said in an email that the weak US inflation data “almost ruled out the possibility of the Federal Reserve's interest rate hike in July, boosted the stock market, and strengthened the reasons for policymakers to keep interest rates unchanged during the summer months.” Among the best-performing constituent stocks in Japan's benchmark index, Kioxia rose 5.5%, Ibiden rose 4.9%, and Taiyo Yuden rose 4.5%.

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