The Nikkei Stock Average jumped 3.4% to close at an all-time high of 49,185.50, as market optimism grows regarding Japan's new leadership. Sanae Takaichi, the new leader of the Liberal Democratic Party (LDP), is expected to be confirmed as Japan's first female prime minister in a parliamentary vote on Tuesday. The market welcomed the prospect of an expansionary fiscal policy advocated by the LDP and its potential coalition partner, the Japan Innovation Party.
This surge was also driven by the strong performance of several blue chips. Kioxia Holdings led the way with a 9.0% gain, followed by SoftBank Group, which rose 8.5%, and Yaskawa Electric, which gained 7.2%. This political victory is considered to pave the way for new economic stimulus amid global uncertainty. Meanwhile, the USD/JPY exchange rate was stable at around 150.64, virtually unchanged from the previous session. (az)
Source: Newsmaker.id
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