Japanese stocks extend gains to 21-year high
Japanese stocks ended higher on Monday, extending their gains for the sixth session in a row, and the Nikkei recorded a new record high in 21 years, amid high sentiment as US stock indexes on Wall Street continued to record new highs and strong indicators of the party's victory. Led by Prime Minister Shinzo Abe in the early parliamentary elections.
The benchmark Nikkei <.N225> was up 100.38 points, or 0.47 percent, to close at 21,255.56, the highest level since September 1996. The broader Topix index was up 10.56 points, or 0.62 percent, to 1,719.18.
The Nikkei finished Friday's session up 0.9%, and the Topix added 0.5%, its fifth consecutive daily gain, and the indexes were the fifth consecutive weekly gain, the longest weekly gain since November 2016.
S & P 500 futures rose 0.1%, and the index ended Friday's session up 0.1%, hitting a new record high of 2,557.65 points.
Most polls in Tokyo suggest the ruling party will win a comfortable victory in early parliamentary elections early next week and ensure Shinzo Abe remains prime minister, continuing spending and expanding stimulus measures to support the world's third-largest economy.
img credz: pixabay.com
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