Tokyo, Oct. 21 (Jiji Press)–Japanese stocks kept advancing Tuesday morning, with the key Nikkei 225 index hitting a new record intraday high for the second consecutive day. At 10:53 a.m., the Nikkei average stood at 49,912.23, up 726.73 points, or 1.48 pct, from Monday. Investors continued to buy stocks, welcoming higher U.S. stock prices overnight and an agreement between Japan’s ruling Liberal Democratic Party and Nippon Ishin no Kai (Japan Innovation Party) to form a coalition government. LDP leader Sanae Takaichi is expected to be elected new prime minister at the Diet, Japan’s parliament, Tuesday afternoon. Expectations for aggressive fiscal spending and continued monetary easing under Takaichi’s administration are fueling the market’s upswing, an official at a Japanese securities company said. END [Copyright The Jiji Press, Ltd.]
Nikkei Hits New Record Intraday High above 49,900
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