Nikkei 225 advanced 1.56% on Wednesday, September 30, breaking a three‑session lull as oil prices eased. The index’s climb was the largest in the last two months, nudging the basket of Japan’s blue‑chips higher against a backdrop of declining crude costs.
The MSCI Asia Pacific Index mirrored the trend, rising 0.4% for the day. Japan’s Nikkei led the rally while South Korea’s Kospi added 0.65%, and the broader Topix climbed 0.91%.
Oil prices delivered the catalyst. Brent crude traded around $103 a barrel, down 2.6% from the previous session, while West Texas Intermediate slipped 0.3% to $89.10. The price shift followed Saudi Arabia’s announcement of a partial pipeline capacity restoration after drone attacks, according to Bloomberg.
Investors are now eyeing the U.S. inflation data due later today. The CPI release is expected to reveal whether the Federal Reserve’s rate‑hike cycle can pause, a factor that has been weighing heavily on Asian equity sentiment.
Looking ahead, market participants will monitor the U.S. Treasury yields, which have climbed above 5.61% on the 30‑year note, a level not seen since 2002. A softer CPI reading could temper expectations of further Fed tightening and support continued equity growth in the region.