Japanese Shares Hold Gain on Fed Hopes as Kishida to Step Down.

Japanese shares experienced gains due to hopes for lower US interest rates, although the market was affected by political uncertainty after Prime Minister Fumio Kishida announced he would not seek a second term. The Topix rose 1.1%, driven by strong performances in value stocks like bank shares. The Nikkei 225 Stock Average closed 0.6% higher. Kishida's departure was not entirely unexpected, but investors are uncertain about his replacement and the potential impact on policies. The market also responded to softer-than-expected US wholesale price data, which increased expectations of a Federal Reserve interest rate cut. [Extracted from the article]