Nikkei closes higher after Japan’s coalition government strengthened its majority in parliament

Japan’s Nikkei index closed higher on Monday after Japan’s coalition government consolidated its majority in the upper house of parliament in Sunday’s election.

The Nikkei closed up 1.11 percent at 26,812.30 points, after climbing as much as 2 percent earlier in the session to its highest level since June 13.

The broader Topix index rose 1.44 percent to 1,914.66 points.

The elections were held two days after the assassination of former Prime Minister Shinzo Abe, who wielded great political influence.

Toyota Motor Co., the car maker, rose 1.94 percent, and Sony Group shares rose 2.11 percent, supporting the Topix index.

Tokyo Electron bucked the upward trend, falling 1.38 percent, affecting the Nikkei index.