Nikkei climbs 0.86% to 64,769.74 after SoftBank surge of 10.28%

Japan's Nikkei share average climbed 0.86% to close at 64,769.74 in midday trading, ending a four-day losing streak. The rebound was fueled primarily by a sharp rally in SoftBank Group, which jumped 10.28%. Arm Holdings, the chip-design unit of SoftBank, gained 3.29% overnight before the market opened. Memory chipmaker Kioxia also contributed to technology sector strength, rising 4.94%. These gains followed strong trading on Wall Street where investors lowered expectations for further US interest rate hikes. Federal Reserve Governor Christopher Waller stated he would keep rates unchanged if upcoming data showed inflation was cooling. Despite this domestic relief, Japanese equities faced continued pressure from the Bank of Japan's monetary tightening path. Markets have largely priced in a rate increase to 1.25% later this month, with another hike anticipated by January according to Tokyo Tanshi data. The broader Topix index slipped 0.18% to 4,094.48 and is projected for a 1.26% weekly decline. Japanese government bond yields fell further on Friday.