Reported 3 days ago
In a significant market reaction, Japan's Nikkei index soared past 47,000 for the first time following the election of Sanae Takaichi as the new Liberal Democratic Party leader, signaling a potential shift towards more expansive fiscal policies. The yen slumped over 1% against the dollar and traded at historic lows against the euro, while long-term government bond yields surged amid speculation of increased deficit spending. Takaichi's victory is seen as an endorsement of Abenomics, but concerns linger over the financial implications of her policies as the party holds a minority position.
Source: YAHOO