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| Nikkei hits new highs after Japan election | Nikkei hits new highs after Japan election |
| (about 1 hour later) | |
| Japanese stocks hit their highest level since 1996 on Monday after Prime Minister Shinzo Abe won a clear election victory. | |
| The Nikkei climbed more than 1% in its 15th straight day of gains, a record winning streak for the index. | The Nikkei climbed more than 1% in its 15th straight day of gains, a record winning streak for the index. |
| The ruling coalition is set to retain its two-thirds majority, suggesting Mr Abe's economic policies will continue. | The ruling coalition is set to retain its two-thirds majority, suggesting Mr Abe's economic policies will continue. |
| The Nikkei index of 225 leading Japanese shares finished 239 points higher at 21,696.65. | The Nikkei index of 225 leading Japanese shares finished 239 points higher at 21,696.65. |
| The yen hit a three-month low against the US dollar, helping boost shares of Japanese exporters. | The yen hit a three-month low against the US dollar, helping boost shares of Japanese exporters. |
| A weaker yen tends to lift the shares of export firms because it makes their products cheaper to overseas customers. | A weaker yen tends to lift the shares of export firms because it makes their products cheaper to overseas customers. |
| However, Japan's fresh stock market highs also reflect a global rally, as the country's equity markets are tracking gains on markets elsewhere. | However, Japan's fresh stock market highs also reflect a global rally, as the country's equity markets are tracking gains on markets elsewhere. |
| Nissan, Mitsubishi and Sony all moved ahead in early trade, although Toyota's shares slipped after it temporarily suspended production at its factories because of a powerful typhoon. | Nissan, Mitsubishi and Sony all moved ahead in early trade, although Toyota's shares slipped after it temporarily suspended production at its factories because of a powerful typhoon. |
| Abenomics to continue | Abenomics to continue |
| Mr Abe, who heads the Liberal Democratic Party (LDP) coalition, said the election was first and foremost about the nuclear threat from North Korea. | Mr Abe, who heads the Liberal Democratic Party (LDP) coalition, said the election was first and foremost about the nuclear threat from North Korea. |
| Analysts expect the victory will also mean the government's economic policies will remain largely unchanged. | Analysts expect the victory will also mean the government's economic policies will remain largely unchanged. |
| Since he was first elected in 2012, Mr Abe has pursued a "three arrows" policy of monetary easing, fiscal stimulus and structural reform. | Since he was first elected in 2012, Mr Abe has pursued a "three arrows" policy of monetary easing, fiscal stimulus and structural reform. |
| The policy, known as "Abenomics", was supposed to jumpstart Japan's economy after two decades of stagnant growth. | The policy, known as "Abenomics", was supposed to jumpstart Japan's economy after two decades of stagnant growth. |
| Lately, the Japanese economy has shown signs of life, with strong stock market gains, upbeat manufacturing data and six straight quarters of growth. | Lately, the Japanese economy has shown signs of life, with strong stock market gains, upbeat manufacturing data and six straight quarters of growth. |
| "The one area where there's been not much success is structural reforms. I guess that's what most people had hoped for, but we haven't really seen much on that front," said Marcel Thieliant from Capital Economics. | "The one area where there's been not much success is structural reforms. I guess that's what most people had hoped for, but we haven't really seen much on that front," said Marcel Thieliant from Capital Economics. |
| Mr Thieliant also suggested there will be more headwinds for the economy if Mr Abe follows through on his plan to increase the country's sales tax again in 2019. | Mr Thieliant also suggested there will be more headwinds for the economy if Mr Abe follows through on his plan to increase the country's sales tax again in 2019. |