Tokyo – A Tokyo Stock Exchange closed with the most in four months on Monday, boosted by the victory of the ruling coalition of Prime Minister Japan Shinzo Abe, in a parliamentary election yesterday and expectations of further fiscal stimulus.
the Nikkei index, which brings together the most traded shares in the Japanese capital, jumped 3.98% to 15,708.82 points, closing the day with the largest percentage gain in a single trading session since March 2.
Today’s performance erased losses of 3.67% to the Japanese market racked up last week.
Abe’s coalition won the election easily in the upper house of the Japanese Parliament Sunday, consolidating its lead, a rare feat in the face of political turmoil affecting many countries around the world.
“to achieve or not achieve political stability is a global issue today. Japan is stable the medium to long term. This gives support, “said Katsunori Kitakura, strategist at Sumitomo Mitsui Trust Bank.
Kitakura also provides that the Japanese government is likely to extend its fiscal stimulus, amid concerns caused by the decision of UK to vote for her out of the European Union on referendum held last month.
“They can act boldly”, said the strategist.
Another positive factor for the Japanese stock market was the US employment report released on Friday, which surprised positively and eased fears about the strength of the recovery of the largest economy in the world.
highlights high in Tokyo today included Taisei construction (+ 6.4%) and real estate firm Mitsui Fudosan (+ 6%) .
the most significant gain, however, was Nintendo, who shot 25% on betting that its new video game for smartphones, the Pokemon Go, will help expand the company’s presence in the gaming business for mobile devices. Source: Dow Jones Newswires
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