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Japan elections: World stocks, dollar rise on victory for Abenomics

Japan's Nikkei climbed 1.1% to its highest since 1996, lifting the MSCI All-Country World index to a fresh record high

Georgina Prodhan | Reuters  |  London 

Japanese Prime Minister Shinzo Abe’s election victory lifted world stocks and the dollar on Monday, relegating concerns about Spain’s escalating political crisis to little more than a blip on the market radar. Abe’s emphatic win, which heralds a continuation of Japan’s hyper-easy monetary policy, kept risk-on bets in play after fresh optimism about tax cuts in the United States had pushed Wall Street to a new record on Friday. US stock index futures pointed to a higher open for Wall Street, tracking gains for other major stock markets. President ...

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First Published: Tue, October 24 2017. 02:55 IST