Japanese equities extended their rally on Monday, with the Nikkei 225 briefly topping 43,500 and the broader Topix also reaching an all-time high. The benchmarks were buoyed by continued gains in U.S. stocks and a weaker yen that bolstered exporter earnings expectations. Automakers and transport stocks led advances, lifting the Tokyo Stock Exchange Transport Index by about 1.3%. Fast Retailing, the operator of Uniqlo, was the single largest contributor to the Nikkei’s rise, adding roughly 1.4%. Currency markets provided a supportive backdrop, with the yen trading near ¥147 to the dollar. Expectations that the Federal Reserve could signal a shift toward rate cuts at this week’s Jackson Hole symposium added to risk appetite. Japanese government bond yields climbed alongside equities. The 10-year JGB yield rose 2.5 basis points to 1.585%, while the 20-year yield edged up to 2.58%. Futures on the 10-year benchmark slipped, reflecting the move higher in yields.