Japan’s equity rally accelerated on Friday as the Topix index climbed 1.4% to 3,029.41, breaching the 3,000 threshold for the first time and touching an intraday high of 3,032.52. The Nikkei 225 advanced 2% to 41,875.96, its strongest level since late July, extending a run that has lifted the benchmark by roughly 7% over the past two weeks. Heavyweight SoftBank Group led the charge, soaring as much as 11% after the technology investor reported a swing back to profit in the June quarter. Sony Group added about 6% on the back of its own earnings beat. Sentiment was further buoyed by clearer terms of a bilateral trade accord with Washington and mounting bets that an anticipated U.S. Federal Reserve rate cut could arrive as early as September, easing global financing conditions. The move into risk assets nudged sovereign yields higher: the five-year Japanese government bond yield rose 2.5 basis points to 1.05%, while the 30-year yield edged up 1 basis point to 3.07%. Market participants said modest upward pressure on yields reflects expectations that the Bank of Japan will maintain its ultra-loose stance even as corporate earnings and external demand bolster the stock market.