Today, the Japanese stock market went crazy. As of the close, the Nikkei 225 index rose 0.81%, reaching a historic high; the Japanese TOPIX index rose 0.92% to 2898.47 points, breaking the historical peak set in December 1989 during the bubble period. Unlike the Nikkei 225, which represents some stocks, the trend of the TOPIX index can better represent the overall market. The index's historic high indicates that the overall Japanese market is in a full-scale counter-attack and reaching a new high. Currently, global markets are betting on a September rate cut by the US Federal Reserve, and many Asian stock markets have risen across the board. Among them, the South Korean stock market has surged, with the Seoul Composite Index rising 1.11% to a new high since January 2022; the Australian S&P/ASX200 index's intraday gain widened to 1.2%; and the S&P SenSex30 index in India rose to 80392 points at one point, once again refreshing the historical high. Overnight, the latest U.S. data showed that the labor market is cooling down more than expected, and there are signs of slowing economic growth, driving up expectations of a rate cut. The CME's FedWatch Tool shows that the probability of a 25-basis-point rate cut in September has increased from 63% to 66.5%. (Securities Times)