Takaichi's Landslide Win Sends Japan Stocks Soaring

Japan's Prime Minister Sanae Takaichi secured a historic mandate, with her ruling Liberal Democratic Party capturing a two-thirds supermajority in the 465-seat lower house. This decisive win has sparked hopes of increased government investment and fiscal expansion measures, driving Japan's Nikkei 225 to cross 57,000 for the first time, closing 3.9% higher at 56,363.94. The Topix index also notched a record high, closing at 3,783.94, up 2.3%. The victory has given Takaichi stronger momentum to pursue proactive fiscal policy, with markets expecting her economic policies to boost equities. The Japanese yen strengthened to 156.88 against the dollar, while yields on 10-year government bonds rose nearly 4 basis points to 2.274%. Other Asian markets also traded higher, with South Korea's Kospi jumping 4.1% and Australia's S&P/ASX 200 rising 1.85% .