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Tokyo stocks open higher after Sunday vote

4.Stocks, oil bounce back from Omicron rout
(File photo: Jordan News)
TOKYO — Tokyo stocks opened higher on Monday after Japan's ruling bloc secured a strong win in Sunday's upper house election, held just days after the assassination of former premier Shinzo Abe.اضافة اعلان

The Nikkei 225 index was up 1.55 percent, or 411.63 points, at 26,928.82 in early trade, while the broader Topix index advanced 1.41 percent, or 26.62 points, to 1,914.06.

According to local media, Prime Minister Fumio Kishida's Liberal Democratic Party (LDP) and partners won more than 75 of the 125 upper house seats up for grabs.

"Kishida's administration has secured power for the next 'three golden years' with no national elections scheduled in that time, and foreign investors highly appreciate this political stability," Okasan Online Securities said.

The Tokyo market is also being supported by the possibility of a cabinet reshuffle and economic stimulus following the election, both of which Kishida has mentioned, the brokerage added.

The dollar fetched 136.30 yen in early Asian trade against 136.10 yen on Friday.

Toyota was up 1.78 percent at 2,148.5 yen, Sony Group rallied 2.92 percent to 11,470 yen, and SoftBank Group climbed 3.48 percent to 5,588 yen.


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