Home / World News / Japan shares at 20-year high on Shinzo Abe victory, yen at 3-month low

Japan shares at 20-year high on Shinzo Abe victory, yen at 3-month low

Investors assumed the victory would allow the Bank of Japan to continue with massive monetary easing

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Japanese Prime Minister Shinzo Abe, leader of the Liberal Democratic Party, poses for photos as he marks on the name of one of those elected in the parliamentary lower house election at the party headquarters in Tokyo. (Photo: PTI)

Reuters Sydney

Last Updated : Oct 23 2017 | 3:11 PM IST

Japanese shares jumped on a weaker yen on Monday as an election win for Shinzo Abe’s ruling bloc gave a green light for more super-easy policy stimulus, while the euro eased as Spain’s constitutional crisis aggravated concerns about political unity in the region.

The US dollar was the major beneficiary as President Donald Trump and Republicans took a small step toward tax cuts, boosting Wall Street stocks and lifting bond yields.

Japan’s Nikkei raced up 1 per cent to its highest since 1996 after Prime Minister Abe looked to have easily won in national elections over the weekend.

Investors assumed

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