Japanese stocks gained for a fourth day, following US peers higher, driven by the weak yen as investors look to a potential pause in rate hikes by the Federal Reserve later today. 

The Topix Index rose 1.2% to 2,264.79 as of 8:59 a.m. Tokyo time, while the Nikkei advanced 1.8% to 33,018.65.

Toyota Motor Corp. contributed the most to the Topix Index gain, increasing 5.1%. Out of 2,156 stocks in the index, 1,194 rose and 858 fell, while 104 were unchanged. The yen was little changed after falling about 0.4% Tuesday to 140.22 per dollar.

"US CPI came in line with expectations, with core CPI data indicating that the nation's business sentiment is relatively firm, which is a tailwind for Japanese stocks," said Mitsushige Akino, senior executive officer at Ichiyoshi Asset Management.  "Prime Minister Fumio Kishida did not deny the dissolution of the government at his press conference yesterday, raising speculation of potential dissolution of the Lower House, which is another driver of Japanese stocks." 

Source : Bloomberg