Japan shares up on news of PM resignation
Japanese shares climbed up on Friday following the official announcement that Prime Minister Yoshihide Suga would be stepping down. Meanwhile, the dollar sits at a month low against other major currencies as traders await US employment data. Global equity markets are at record highs.
Japan’s TOPIX index hit a three-decade high and was last up 1.50% after news broke out that Suga would step down in September and will not be running for reelection as leader of the nation’s ruling Liberal Democratic Party.
The Nikkei jumped 1.87%.
Outside Japan, MSCI’s broadest index of Asia-Pacific shares rose 0.12%, with gains in Australia increased by 0.40% and those in Korea up 0.66%.
If the gains are sustained, the region’s benchmark would post its ninth session of advances in the past 10 as it inches back toward its position in mid-July, before Beijing’s regulatory crackdowns sent shares sliding down.