🔗 Share this article Japan's Equities Surge to All-Time Highs In the Wake of Appointment of Business-Friendly Leader The newly-elected leader is named the latest head of the nation's ruling LDP. Japanese equities have reached a all-time high following the nation's governing LDP appointed the pro-business politician as its new leader, paving the way for her to be Japan's next leader. The benchmark Nikkei index rose by around 4.5% on Monday in the capital, after climbing above forty-seven thousand for the first time. She, who has served in high-ranking positions including economic security minister and internal affairs, is known for her support of increased government spending and reduced borrowing costs. She is also a longstanding admirer of former British prime minister the Iron Lady and her free market approach to the economy. Market Reaction and Economic Effects Market participants applauded the news of her victory in the LDP leadership race, with shares climbing in real estate, tech and industrial companies. Although Japan's equities gained, the Japanese currency hit a record low against the euro and fell by one point seven percent against the American currency. The day's market response was mostly a "immediate response" to the possible selection of the leader as the nation's leader, an economist Jesper Koll told. While her policy proposals to stimulate the economic growth through increased government spending could benefit companies, they may additional pressure on the yen as Japan's national debt increases, said Mr Koll. Political Transition and Issues If confirmed later this month as the replacement to Shigeru Ishiba, she will be the nation's first woman leader. Guided by late leader Abe, she has championed his policy framework - called Abenomics - of high public spending and cheap lending. If appointed in the role, Takaichi will have to manage a challenging bilateral ties and see through a trade agreement with American leader Trump's administration, which was earlier negotiated by the previous administration. She would additionally have to address a sluggish economy and families facing rising expenses and stagnant wage growth. With the US president expected to visit Japan soon, the economist stated she will be eager to discuss a fresh deal with the US president "to get the US currency weaker and to get the yen stronger."