Japanese Shares at The Highest Level in a Month

Japanese stocks surged to a one-month high on Monday, November 1, boosted by expectations of government stability and more fiscal stimulus after Prime Minister Fumio Kishida’s ruling party won a majority in parliamentary elections.

Kishida’s conservative Liberal Democratic Party (LDP) retained a majority in the House of Representatives in Sunday’s parliamentary elections and is expected to introduce an additional budget to support companies affected by the pandemic.

The Nikkei index posted its biggest gain in more than 4 months, up 2.61% to 29,647 points, its highest since late September.

The broader Topix index rose 2.18%, reaching its highest level in a month at 2044.72 points.