Japan’s stock-market rally continued, with the Nikkei Stock Average rising 1.2% to 44372.50—another record high.
SoftBank Group was the top gainer, surging 10% to a record close after key partner Oracle won billion-dollar AI deals. Other AI-linked stocks gained, too, with Disco up 6.5% and Advantest rising 4.4%.
Domestic political changes are helping boost the market, said Dilin Wu at Pepperstone. Takaichi, a front runner to replace PM Ishiba, is advocating stronger fiscal stimulus, tougher national defense and a stance against premature rate hikes. “For investors, that spells a friendlier policy backdrop.”
If she wins, defense, energy, and exporters will gain. But even if rival Koizumi prevails, markets see little downside, said Wu, as he is known for a moderate, steady approach, and would maintain a stable upward pace for equities.