Japan's Nikkei, one of the major indices in the country's stock market, set a new record in the first trading session of the week. For the first time, this Japanese index has crossed the 50,000-point mark.
Various stock market indices in the country have seen massive growth after the new Prime Minister took the oath. On Monday, the Nikkei 225 index rose 2.17 per cent to reach 50,367 points. TOPIX, another important index in the country's stock market, increased by 1.72 percent.
Additionally, shares of multiple Japanese companies rose on Monday. Kawasaki Heavy Industries increased by 7 per cent, Advantest rose by 5 per cent, and SoftBank Group's share price increased by 4 per cent.
Sanae Takaichi has become Japan's new Prime Minister. After taking the oath as Prime Minister, she announced a special package to boost the economy.
According to Reuters’ sources, she has announced a $9,220 package. The Bank of Japan may announce monetary policy decisions this Thursday. There are indications that interest rates are likely to remain unchanged.
Japan's female Prime Minister may meet with American President Donald Trump this week. Due to all these factors, Japan's stock market has witnessed massive growth. In last week's trading sessions as well, Japan's two market indices, Nikkei and TOPIX, had seen significant increases.
Along with Japan, most Asian markets have grown in Monday's trading session. For instance, South Korea's KOSPI rose by more than 2.3 per cent. KOSDAQ increased by 0.72 per cent. Moreover, Hong Kong's Hang Seng rose by 1 per cent.
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