Japan’s Nikkei Ends 8-Day Losing Streak

The Japanese Nikkei index rose after 8 consecutive sessions of losses, as signs of progress in US political negotiations over the debt ceiling provided an incentive to snap deals, but the broader Topix failed to sustain the gains.

Investors have repurchased battered stocks that recently suffered losses on concerns that central banks may cut stimulus faster than expected amid growing concerns about rising inflation around the world.

The Nikkei increased 0.54 percent to 27,678.21 points, but Topix was unable to maintain previous gains, to close 0.12 percent lower at 1939.62 points, recording the ninth consecutive session of losses, its longest streak of decline since 2012.

Declining stocks outnumbered gainers by roughly three to two, which also indicates fragile sentiment in the market.