Foreign Markets

Japanese markets advanced after Prime Minister Shigeru Ishiba pledged to take strong measures to counter soaring prices.

The Prime Minister didn't intend to say we're rolling out new budget spending, government spokesman Yoshimasa Hayashi told reporters. Rather we're going to fully utilize the policies outlined in this year's additional budget and next year's initial budget.

The Nikkei average climbed 0.65 percent to 38,027.29 while the broader Topix index closed up 0.55 percent at 2,812.89. Japan's leading index increased more than initially estimated in January to the highest level in three months, the latest data from the Cabinet Office showed on Wednesday.

The leading index, which measures future economic activity, rose to 108.3 in January from 107.9 in December. In the flash report, the score was 108.0.

The coincident index that measures the current economic situation came in at 116.1, up slightly from 116.0 in the previous month. The reading for January was revised down from 116.2.

Data showed that the lagging index climbed to 111.2 in January from 109.4 in December.

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