Sanae Takaichi Win Sparks Record Highs in Japanese Markets

Japanese stocks hit record highs as Sanae Takaichi wins party leadership, set to be Japan's first female prime minister. The yen falls while Bitcoin soars amid U.S. government shutdown concerns. Gold also hits new peaks, and oil prices rise following an OPEC+ production increase announcement.

Japanese financial markets surged on Monday following the election of Sanae Takaichi as leader of the ruling party, marking her path to become Japan's first female prime minister. Her victory instilled investor optimism, pushing the Nikkei above 48,000 for the first time ever and sparking expectations of fiscal stimulus.

Concurrent to these developments, the Japanese yen experienced a decline, plummeting 2% against the U.S dollar and reaching an all-time low versus the euro. This currency slide comes amidst apprehensions about Japan's financial health, which also pushed the yield on 30-year government bonds to unprecedented heights.

Amid global economic shifts, gold prices climbed to near-record levels, and Bitcoin reached new heights, reflecting investor movement towards alternative assets amidst the U.S. government shutdown. Meanwhile, oil prices rose following OPEC+'s announcement to slightly increase production, inciting further market fluctuations.

(With inputs from agencies.)