Japanese Stocks Soar to Record Highs, Snap Election a Trigger
Japan's Nikkei 225 stock index rose 3.1% to close at 53,549, while the Topix index jumped 2.41% to 3,599 on Tuesday. These gains pushed the Japanese stock market to an all-time high, fueled by speculation that Prime Minister Sanae Takaichi might call a snap election next month.
Investors hope Takaichi will leverage her popularity to push for expansionary fiscal policy, which is believed to bolster Japan's economic growth. More attractive stock valuations, solid earnings expectations, and the prospect of economic expansion have made domestic and foreign investors increasingly enthusiastic about investing in the Japanese market.
Technology stocks were the main drivers of the rally, with sharp gains in Advantest (8.5%), SoftBank Group (4.3%), Tokyo Electron (8.2%), Lasertec (8.9%), and Kioxia Holdings (7.8%). Other leading stocks, such as Mitsubishi UFJ (5.3%), Mitsubishi Heavy Industries (4.9%), and Toyota Motor (7.5%), also rallied, bolstering positive sentiment across the Japanese stock exchange. (az)
Source: Newsmaker.id
