The Nikkei 225 jumped 3.37% to close at 49,186 while the Topix Index climbed 2.46% to 3,248 on Monday, with the former hitting fresh all-time highs as investors positioned for Japan's leadership vote on Tuesday that will decide the country's next prime minister. Sentiment improved after the ruling Liberal Democratic Party and the Japan Innovation Party agreed to form a coalition government, paving the way for Sanae Takaichi to become Japan's first female premier.
The so-called "Takaichi trade," fueled by expectations of increased fiscal stimulus and loose monetary policy, drove buying in equities and selling in domestic bonds and the yen. Gains were broad-based, led by tech and AI-related stocks such as SoftBank Group (8.5%), Advantest (3.8%), Lasertec (5.9%), Tokyo Electron (4.4%) and Disco Corp (3.7%). Heavyweight industrial, consumer and financial stocks also posted strong gains.
Source: Trading Economi
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