The “Takaichi trade” was back in full swing on Monday, as the Tokyo market cheered the election of fiscal and monetary dove Sanae Takaichi as the ruling party’s leader, with the Nikkei 225 index breaking the 48,000 level for the first time ever.
The term was coined last year when Takaichi led the race for Liberal Democratic Party president, fueling the market at the time.
The benchmark gained over 4% right after the opening bell and went further up to an all-time high of 48,150.04 in the afternoon, beating the previous all-time record of 45,852.75 reached on Sept. 19.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.