The Nikkei 225 index closed up 4.8% to 47,944.76 on Monday (October 6), posting its biggest daily surge since April. The rise was led by heavy industry and electronics stocks, which benefited from expectations of new fiscal stimulus after Sanae Takaichi was named Japan's next Prime Minister.
Market sentiment was boosted by hopes that Takaichi's pro-stimulus administration would support economic growth, while the Bank of Japan was expected to delay interest rate hikes. Stocks such as Mitsubishi Heavy Industries and Tokyo Electron recorded significant surges.
In addition to domestic political factors, the Nikkei's surge also aligns with the rally in risk assets in Asia, driven by optimism about global monetary policy easing and massive investment in the artificial intelligence (AI) sector. (az)
Source: Newsmaker.id
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