Japanese markets rally, Nikkei jumps 1.12%

Japanese markets rallied and the yen languished near a five-month low after Bank of Japan Governor Kazuo Ueda maintained his dovish stance in his speech on Wednesday, saying the central bank must scrutinize the impact of Trump's policy and overseas risks.

The Nikkei average jumped 1.12 percent to 39,568.06 while the broader Topix index settled 1.20 percent higher at 2,766.78.

Toyota Motor soared 6 percent to extend gains from the previous session after reports suggested the automaker would double its return on equity target to 20 percent by around 2030.

Honda Motor rallied 3.8 percent, Nissan Motor surged 6.6 percent and Mitsubishi Motors advanced 6.5 percent.

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