The Nikkei 225 Index rose 1.1% to above 68,000 while the broader Topix Index climbed 1% to 4,180 on Thursday, with the latter hitting fresh record highs as subdued US inflation data eased pressure on the Federal Reserve to raise interest rates in the near term. Markets now see around a 40% chance of a 25 basis point rate hike from the Fed in September, down from nearly 50% a day earlier. In Japan, producer prices rose 7.2% in July, easing slightly from 7.3% in June and coming in below forecasts of 7.4%. Technology and artificial intelligence-related stocks led the advance, with strong gains for Kioxia Holdings (6.2%), Taiyo Yuden (8.6%), Advantest (5.3%), Ibiden Co (7.3%) and Murata Manufacturing (7.4%). Bank stocks also performed well, including Mitsubishi UFJ (1.6%) and Mizuho Financial (1.7%).