The Japanese equity market rose in October, with the TOPIX (w/dividends) climbing 5.45% and the Nikkei 225 (w/dividends) rising 8.16%. Stock prices began the month higher, supported by improved business sentiment in the Bank of Japan’s (BOJ) Tankan survey and receding geopolitical concerns after North Korea refrained from carrying out a missile test on the anniversary of the founding of its communist party.