Tokyo: The Nikkei index of Japanese stocks rose by more than 3 percent, closing on Monday at its highest level ever, driven by a coalition agreement that ensures the victory of the ruling Liberal Democratic Party's leader Sanae Takaichi as Prime Minister of Japan, ending days of political uncertainty.

The Kyodo News Agency reported that the Nikkei index, which includes 225 issues, closed up by 1,603.35 points, or by 3.37 percent, compared with Friday's close, recording 49,185.50 points. The broader Topix index rose by 78.01 points, or by 2.46 percent, to 3,248.45 points.

In the main stock market, bank shares, the information and communications sector, and rubber‐products led the list of gainers.

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On the other hand, the US dollar briefly rose to a low of 151 yen this morning, as the yen weakened amid concerns regarding the deterioration of Japan's financial situation under Takaichi, who supports monetary easing, and who is expected to be officially elected on Tuesday.

The US currency later fell back to 150 yen after a hawkish member of the board of the Bank of Japan called for resuming interest‐rate hikes, considering the time appropriate with waning concerns about higher US tariffs

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