On the 8th, the ruling Liberal Democratic Party won a landslide victory in Japan's House of Representatives election, and on the 9th, Japan's benchmark stock index, the Nikkei 225 average (Nikkei index), broke through 57,000 during trading to hit an all-time high.
The Nikkei index opened the day at 55,130.63. As of around 10:10 a.m., the Nikkei index was moving at 57,165.34, up 5.37% from the previous trading day.
Nihon Keizai Shimbun (Nikkei) explained that buying has continued on expectations that the Liberal Democratic Party securing at least two-thirds of the seats on its own in the election will increase the likelihood of policies pursued by Prime Minister Takaichi Sanae being implemented. There are growing projections that Prime Minister Takaichi's policy of "responsible active fiscal management" will gain momentum and that the weak yen will persist.
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