Tokyo benchmark Nikkei 225 jumps after PM Takaichi’s ruling party wins a super majority in election

BANGKOK (AP) — Tokyo’s Nikkei 225 share index jumped 4.5% on Monday after Japanese Prime Minister Sanae Takaichi’s governing party secured a two-thirds supermajority in a parliamentary election.

Takaichi is expected to pursue market-friendly policies. She told public broadcaster NHK later that she is ready to pursue policies to make Japan strong and prosperous.

Markets across Asia also advanced, with South Korea’s Kospi surging 4.5% and other benchmarks gaining more than 1%.

The gains came after the U.S. stock market roared back on Friday as technology stocks recovered much of their losses from earlier in the week and bitcoin halted its plunge.

The S&P 500 rallied 2% for its best day since May. The Dow Jones Industrial Average soared 1,206 points, or 2.5%, and topped the 50,000 level for the first time, while the Nasdaq composite leaped 2.2%.