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  HOME | Business & Economy (Click here for more)

Tokyo Stock Exchange Opens Strong after Abe’s Election Victory

TOKYO – The Tokyo Stock Exchange started on Monday with a strong opening following the resounding victory of Japan’s Prime Minister Shinzo Abe’s party in Sunday’s elections, which will allow it to continue to implement its economic stimulus measures.

After the first 15 minutes of trading, the Nikkei Benchmark rose 197.28 points to 21,654.92 points, up 0.92 percent.

The second indicator, the Topix, which groups together the values of the first section, rose 11.35 points, or 0.65 percent, to 1,741.99 points.

The victory of Abe’s Liberal Democratic Party in Sunday’s early elections was well received by investors on the Tokyo stock market, who see the result as a continuation for the economic stimulus measures, known as “Abenomics.”

Abe’s Liberal Democratic Party (PLD) and its coalition partner, the New Komeito, also secured control of two-thirds of the lower house of parliament, allowing them to continue their policies with ease.

Abe’s predictable victory in the polls already propelled Tokyo shares over the last week and led them to score their longest winning streak in more than half a century, 14 days.

 

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