日本股市

Japan stocks hit record as Sanae Takaichi becomes prime minister

‘Takaichi trade’ reflects optimism that ruling coalition will increase defence spending and cut some taxes

Japan’s parliament has elected Sanae Takaichi as the country’s first female prime minister, as Tokyo stocks hit a record high on investor optimism over her government’s policies.

Takaichi won 237 votes from MPs in the 465-seat lower house on Tuesday following a breakthrough coalition deal by her Liberal Democratic party 24 hours earlier.

Her new ruling coalition is expected to discuss an increase in defence spending, potential tax cuts and consider a push to restart Japan’s suspended nuclear power plants.

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