Japanese stocks open at record highs as expectations of snap poll rise
Osanbashi in Yokohama on December 10, 2022.
Yuichi Yamazaki | Afp | Getty Images
Japanese indexes hit record highs Wednesday on expectations that Prime Minister Sanae Takaichi could call for a snap election, likely in February.
This election, if called, will be Takaichi’s first time facing Japan’s voters in an election.
The Nikkei 225 index rose as much as 1%, crossing the 54,000 mark for the first time, after gaining over 3% to hit a record high Tuesday. The Topix also continued to push fresh highs and gained 0.6%.
The Japanese yen has also weakened past the 159 mark against the dollar, reaching its lowest level since July 2024, when Japanese authorities intervened to stop the yen’s slide.
Other Asia markets mirrored losses on Wall Street overnight.
South Korea’s Kospi hovered above the flatline, while the small-cap Kosdaq was 0.37% lower.
Australia’s S&P/ASX 200 was flat.
Meanwhile, Hong Kong’s Hang Seng index futures were at 26,920, pointing to a stronger open compared to the HSI’s last close of 26,848.47.
