Japan's Nikkei hits record after fiscal dove Takaichi's election win

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Japan's Nikkei stock index reached a record high after Sanae Takaichi became the ruling party leader. Investors anticipate her expansionist fiscal and monetary policies. The yen weakened, and short-term bond yields fell, suggesting delayed rate hikes. This unwound earlier expectations for immediate interest rate increases. Long-term bond yields rose on deficit spending concerns.