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Japanese stocks market jumps after Wall Street surges on Fed's rate cut

Japanese stocks jumped 3.67 percent Wednesday following Wall Street's overnight surge spurred by the U.S. Federal Reserve Bank's larger-than-expected interest rate cut.

The benchmark Nikkei 225 stock index rose 579.74 points, or 3.67 percent, to close at 16,381.54 points on the Tokyo Stock Exchange.

The broader Topix index, which includes all shares on the exchange's first section, also jumped 56.63 points, or 3.75 percent, to 1,567.58.