Asian stocks soar as Japan elects new PM
Business
Asian stocks kicked off the week with a bang as Japan elected Sanae Takaichi as Prime Minister.
The Nikkei 225 soared 5.7%, fueled by hopes of fresh government spending.
Investors shifted money from tech to more traditional "cyclical" stocks, while South Korea's Kospi Index—closely linked to AI—also climbed over 4%.
Dow Jones crosses 50,000 mark for 1st time
The US Dow Jones smashed through 50,000 for the first time, showing strong confidence in old-school industries.
Gold and silver nudged up but stayed shy of record highs, and oil prices dipped slightly as Middle East tensions eased.
Analysts are upbeat about Asian markets, with Tony Sycamore, an analyst at IG in Sydney, saying political changes in Japan and strong US trends could keep the momentum going.