TOPSHOT – Officials look on as people vote during the general election at a polling station set up at a local school in Tokyo on October 27, 2024. Japan voted on October 27 in its tightest election in years, with Prime Minister Shigeru Ishiba and his The juggernaut Liberal Democratic Party faces its worst result since 2009. (Photo by Richard A. Brooks/AFP) (Photo by RICHARD A. BROOKS/AFP via Getty Images)
Richard A. Brooks | Afp | Getty Images
Japan’s benchmark Nikkei 225 and Topix indexes rose on Monday after the country saw its ruling Liberal Democratic Party lose its majority in Japan’s lower house following Sunday’s election.
Public broadcaster NHK had predicted the ruling bloc would secure 214 seats, with only one of the total 465 seats undeclared. The opposition Constitutional Democratic Party and the Democratic Party for the People have made significant gains in this election.
The Nikkei rose 0.8%, while the Topix rose 0.7%. The move was also supported by a weaker yen, which fell 0.49% to trade at 153.03 there.
South Korea Kospi gained 0.51%, while small cap Kosdaq was 0.94% more.
Australia’s S&P/ASX 200 from the day 0.11% higher.
Separately, futures for Hong Kong’s Hang Seng index are at 20,522, indicating a slightly weaker open compared to the HSI’s close of 20,590.15.
