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By Bloomberg

The Topix index jumped the most in six weeks, extending a global stocks rally following the Federal Reserve’s pledge to be patient on interest rates and as Japan’s central bank maintained its stimulus.

Daiwa Securities Group Inc. rose 4.8 percent, leading brokerages higher. Isuzu Motors Ltd. surged 4.9 percent after Morgan Stanley raised its rating on the stock. Sony Corp. sank 1.3 percent, paring yesterday’s 4.8 percent advance.

The Topix added 2.4 percent to 1,409.61 in Tokyo, its highest close since Nov. 4 and capping a 0.7 percent advance this week. All but one of the 33 industry groups rose. The Nikkei 225 surged 2.4 percent to 17,621.40. Shares extended gains and the yen weakened after the Bank of Japan retained its plan to keep record stimulus amid a recession in Asia’s second- largest economy.

“We’re seeing a relief rally,” said Koichi Kurose, who oversees about 6 trillion yen ($50 billion) as Tokyo-based chief market strategist at Resona Bank Ltd. “It’s a strong support to the market that central banks are continuing easing.”

The BOJ completed a two-day meeting and reiterated its plan to expand its monetary base at an annual pace of 80 trillion yen ($676 billion), matching forecasts by all 33 economists surveyed by Bloomberg News.

Prime Minister Shinzo Abe’s government will budget about 3.5 trillion yen for measures meant to rekindle economic growth, bringing more fiscal firepower to bear on Japan’s slump than previously expected, the Nikkei reported today. Cabinet will approve the stimulus package as early as Dec. 27. It was originally expected to be worth between 2 trillion yen and 3 trillion yen.

U.S. Futures

The Standard & Poor’s 500 Index jumped 2.4 percent in New York yesterday, capping a two-day gain of 4.5 percent, the most since November 2011. Futures on the S&P 500 rose 0.5 percent today.

Fed Chair Janet Yellen said U.S. policy makers are likely to hold rates near zero at least through the first quarter even as the U.S. economy strengthens. The clarification of policy plans boosted stocks globally. The Stoxx Europe 600 Index soared the most since 2011 and the MSCI All-Country World Index climbed 2 percent to cap its best two days since September 2012.

The Fed meeting this week took place after a series of government reports showing that the U.S. economy is on a stronger footing. Payrolls last month posted the biggest increase in almost three years, while retail sales rose the most in eight months.

U.S. jobless claims in the week ended Dec. 13 fell to the fewest since early November. The Conference Board’s leading indicators index, a gauge of the outlook for the next three to six months, increased in November.

Testing Rebound

“We’ve confirmed the Fed’s stance now and markets are testing out a rebound,” Juichi Wako, a senior strategist at Nomura Holdings Inc. in Tokyo, said by phone. “Excessive risk aversion is calming down after it was confirmed that the Fed isn’t hurrying into a rate hike. For Japanese stocks, we can expect a stronger rebound.”

The yen fell 0.4 percent to 119.36 per dollar, weakening for a third day and boosting the outlook for export earnings.

Automakers and consumer electronics makers were among the biggest boosts to the Topix. Toyota Motor Corp., the world’s biggest carmaker by market value, gained 4.3 percent to 7,562 yen. Canon Inc., the largest camera maker, added 1 percent to 3,918 yen.

Isuzu jumped 4.9 percent to 1,446 yen, its steepest rally since May 13. Morgan Stanley raised its investment rating on the stock to overweight.

Daiwa climbed 4.8 percent to 972.9 yen, the biggest gain since Nov. 4. Nomura Holdings Inc., Japan’s largest brokerage, rose 3.1 percent to 717.1 yen.

Sparx Rallies

Sparx Group Co. jumped 4.9 percent to 216 yen as a measure of real-estate companies led gains among industry groups on the Topix. The asset manager detailed plans to set up an investment trust that buys and manages hospitals, senior homes and research centers.

Sony sank 1.3 percent to 2,446.5 yen. The company is embroiled in controversy following cyber attacks linked to North Korea which prompted a decision to cancel a release of “The Interview,” a comedy film about a plot to kill North Korean leader Kim Jong Un.