Nikkei index extends record run after LDP election win
Japan’s Nikkei stock index climbed to a record intraday high for the second consecutive day on Tuesday, driven by expectations of expansionary fiscal policies following a landslide general election victory by the ruling Liberal Democratic Party.
By 9:41 a.m., the 225-issue Nikkei Stock Average had surged 1,011.06 points, or 1.79 percent, from Monday’s close to reach 57,375.00, News.Az reports, citing Kyodo.
The broader Topix index also advanced sharply, rising 56.90 points, or 1.50 percent, to 3,840.47, marking its own all-time intraday high.
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On the top-tier Prime Market, shares in nonferrous metals, consumer credit firms, and information and communication companies led the gains.
In currency trading at 9 a.m., the U.S. dollar was quoted at 156.13–14 yen, compared with 155.82–92 yen in New York and 156.58–61 yen in Tokyo at 5 p.m. on Monday.
The euro was trading at $1.1903–1905 and 185.84–88 yen, versus $1.1910–1920 and 185.73–83 yen in New York, and $1.1855–1857 and 185.64–68 yen in Tokyo late Monday afternoon.
By Nijat Babayev
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