Japan stocks surge 5%, yen falls on Takaichi’s landslide election win

Hello r/japan. Dave from Nikkei Asia here.

I’m sharing a the TLDR of the article above for anyone interested.

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TOKYO — Investors accelerated the "Takaichi trade" on Monday morning, pushing Japanese stocks to a fresh intra-day high and the yen weaker following the prime minister's landslide victory in lower house elections on Sunday.

The benchmark Nikkei Stock Average jumped over 3,000 points or 5.7%, at one point surpassing the record closing-high of 54,720.66 it marked on Feb. 3. The broader Tokyo Stock Price Index (Topix) rose 2.6% to a new intra-day high while futures were trading up over 6%.