Tokyo, Breaking News— On Monday, Japan’s stock market surged to a record high. The broader Topix index rose 1.3% to 3,146.58, setting a new all-time high, while the Nikkei 225 gained 1.45% to 43,643.81, approaching its record peak of 43,876.42 set on August 19.
In corporate movers, Socionext, a chip designer, jumped 8% to lead the gains. Mazda Motor surged 7.2%, and Mitsubishi Heavy Industries advanced 3.3% amid expectations of higher defense spending. Advantest and SoftBank Group also rose 4.4% and 2.1%, respectively.
Optimism over corporate governance reforms and artificial intelligence investments has buoyed sentiment in recent months. However, a Reuters poll of analysts projects the Nikkei may retreat to around 42,000 by year-end as investors lock in profits.
In currency markets, the Japanese yen weakened further after Prime Minister Shigeru Ishiba announced his resignation on Sunday. By Monday’s Asian session, the yen fell 0.6% to ¥148.25 per dollar, while sliding to its lowest in more than a year against the euro and pound at ¥173.91 and ¥200.33, respectively.
Although a weaker U.S. jobs report put some pressure on the dollar, Japan’s political uncertainty left the yen as the market’s primary casualty. Analysts note the yen’s trajectory will likely hinge on signals from the incoming government.
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