#japan-election

#japan-election

Global stocks hit a new record in Asian trade, led by a three-day rally in Tokyo where the Nikkei jumped to a fresh peak, after Japan's conservative governing coalition strengthened its grip on power. Sanae Takaichi's Liberal Democratic party (LDP) secured a comprehensive victory in Sunday's election. The Nikkei jumped 2.3% to a new all-time high, and the yen rose for a second day.

Japan's stock market has hit a record high after Sanae Takaichi's Liberal Democratic party (LDP) secured a comprehensive victory in Sunday's election. The LDP won 316 of the 465 seats in the country's lower house the first time a single party has secured two-thirds of the lower house since the establishment of Japan's parliament in 1947. The Japan Innovation party, the LDP's coalition partner, won 36 further seats, giving a supermajority of 352 seats.

The yield on the 10-year Treasury rose 1.8 basis points to 4.224% as Japanese yields climbed by 4 basis points to 2.274%. The U.S. dollar was down 0.24% against the yen after initially gaining. Gold rose 1.46% to $5,052 per ounce, and silver climbed 3% to $70.16, also rebounding a bit from massive dives earlier. U.S. oil futures fell 0.88% to at $62.99 a barrel, and Brent crude lost 0.91% to $67.43.