Japan’s Nikkei stock index rose 4.7 percent to a record high of 47,944.76 on Monday, driven by a remarkable surge of investor optimism over the election of conservative Takaichi Sanae as leader of the Liberal Democratic Party (LDP), and most likely the first female prime minister of Japan.

Kyodo News marveled at the unexpected strength of the Takaichi stock surge, which saw other indexes hitting record highs alongside the Nikkei.

“Almost all sectors on the top-tier Prime Market gained ground, led by machinery, electric appliances and real estate issues,” Kyodo News reported.

The yen fell to two-month low against the U.S. dollar and hit a record low against the euro, as fears of an interest rate hike dissipated and investors anticipated easy monetary policy under Takaichi.

“Today’

See Full Page