Japan's Nikkei 225 stock average surged to an all-time high on the 9th, following the ruling Liberal Democratic Party's decisive victory in the House of Representatives election held on the 8th (local time).
The Nikkei index opened at 55,130.63 and breached the 57,000 mark during trading, setting a new record. As of 9:23 a.m., the index was trading at 57,232.78, up 5.49% from the previous session.
The rally is attributed to buying momentum driven by expectations that the LDP's significant seat gains will strengthen Prime Minister Sanae Takaichi's policy implementation capacity.
Market sentiment appears to reflect anticipation that Prime Minister Takaichi will find it easier to pursue policies such as "responsible proactive fiscal spending," along with forecasts that the weak yen will persist.