Yen Weakens, Nikkei Rises—Is Takaichi Playing a Political Game?
Japanese stocks rallied sharply in early trading, driven by a weaker yen, which typically benefits export-oriented companies. The Nikkei index jumped 3.2% to 53,584.31 after Japanese markets reopened after a national holiday on Monday.
The market rally was also supported by political hopes: Prime Minister Sanae Takaichi is reportedly considering a general election next month, which is seen as strengthening her position. Investors are monitoring Takaichi's potential policy direction, particularly regarding economic stability and the yen's movement.
Several blue-chip stocks led the rally, particularly from the automotive, financial, and machinery sectors. Toyota rose 5.0%, Nomura jumped 5.2%, and Kawasaki Heavy Industries rallied 6.0%. On the currency market, USD/JPY was at 158.01, up from 157.38 at the Tokyo Stock Exchange's close on Friday—signaling further pressure on the yen and providing a tailwind for Japanese stocks. (az)
Source: Newsmaker.id