Japanese Stocks Reach New Heights
Japanese stock markets opened at record highs on Wednesday, fueled by rising expectations that Prime Minister Sanae Takaichi may call for a snap election as early as February.
Market Response
The Nikkei 225 index surged over 1%, surpassing the 54,000 mark for the first time, following a remarkable 3% gain the previous day. Meanwhile, the Topix index also reached new heights, adding 0.6% to its value.
Currency Movements
In currency news, the Japanese yen weakened beyond the 159 mark against the dollar, marking its lowest point since July 2024. This decline has raised concerns, particularly as Japanese authorities had previously intervened to stabilize the yen’s value during similar downturns.
International Market Trends
Asian markets displayed mixed responses following movements in Wall Street. South Korea’s Kospi remained stable, barely above flatline status, while the small-cap Kosdaq experienced a slight decline of 0.37%. Australia’s S&P/ASX 200 remained flat, reflecting cautious investor sentiment. Hong Kong’s Hang Seng index futures suggested a potentially stronger opening, trading at 26,920, up from the last close of 26,848.47.
Original source: Open the source
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