The Nikkei 225 Index climbed 1.3% to above 49,200, while the broader Topix Index also rose 1.3% to 3,335 on Wednesday, mirroring gains on Wall Street as traders increased bets on a US Federal Reserve rate cut next month. Those expectations strengthened after the latest batch of US data pointed to softening consumer spending, while reports indicated that White House National Economic Council Director Kevin Hassett is being considered the frontrunner to become the next Fed chair. Technology stocks led the advance, with Advantest, Fujikura, Tokyo Electron, SoftBank Group and Disco Corp gaining between 0.5% and 2.9%. Investors also continued to evaluate the outlook for Bank of Japan policy amid speculation that the central bank could raise rates next month, supported by a weak yen and a firm economic backdrop.