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Japanese Stocks Climb on Cooling US Inflation, Weaker Crude Prices

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Japanese equities opened higher Friday as easing US price pressures and falling crude costs strengthened bets against a September Fed rate hike.

The Nikkei 225 rose 502.6 points or 0.7% at the start of trading to 68,811.17.

US wholesale inflation slowed more than expected in July, with the PPI dropping to 4.7% annually from 5.5% in June and flat month-over-month.

Oil remained subdued with Brent declining to below $87, as traders watched for a possible Strait of Hormuz deal while fresh attacks heightened supply concerns.

No agreement has been reached yet between Iran and Oman despite earlier optimism.

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