Japan's Nikkei 225 jumped 2.17% to hit a record high, crossing above 51,000 for the first time Wednesday, lifted by renewed optimism over U.S.-Japan trade ties and expectations of another Federal Reserve rate cut. The index closed at 51,307.65.

The gains came after U.S. President Donald Trump and Japan's Prime Minister Sanae Takaichi signed a new rare earths framework on Tuesday. Markets also grew more confident that the Fed would deliver a second straight 25 basis point cut to support slowing growth.

Trump's visit marked his first meeting with Takaichi, who assumed office earlier this month. He also met Emperor Naruhito at the Imperial Palace.

Takaichi's premiership will shift the long-ruling Liberal Democratic Party toward more economically liberal, socially conservative,

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