Summary
Japanese stocks reached a new high after the Liberal Democratic Party of Japan chose Sanae Takaichi as its leader. The Nikkei 225 index increased by more than 4%, with investors responding positively to her pro-business policies.
Key Facts
- Sanae Takaichi is the new leader of Japan's ruling Liberal Democratic Party.
- The Nikkei 225 index rose by more than 4%, surpassing 47,000.
- Takaichi supports higher public spending and lower borrowing costs.
- She admires former UK Prime Minister Margaret Thatcher's free-market policies.
- Stocks in real estate, technology, and heavy industry saw gains.
- The Japanese yen fell to a record low against the euro and dropped over 1.5% against the US dollar.
- If confirmed, Takaichi will be Japan's first female prime minister.
- She faces a sluggish economy and US-Japan relations, including a tariff deal with President Donald Trump's administration.
