Japan's Nikkei share index made history on Monday by surpassing the 46,000 level, fueled by the election of fiscal dove Sanae Takaichi as the leader of the ruling party and the nation's next prime minister.

In early trading, the Nikkei 225 Index soared 2.8% to 47,061.07, with the broader Topix climbing 2.1%. Meanwhile, the two-year Japanese government bond yield dropped 5 basis points to 0.89%, signaling market expectations of postponed interest rate increases by the central bank. The yen weakened over 1% against both the dollar and euro.

Takaichi, 64, advocated the most expansionist fiscal and monetary policies among the five candidates vying to replace hawkish Prime Minister Shigeru Ishiba during the Liberal Democratic Party leadership race. Her win depicted a pivotal moment, invigorat

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