FX.co ★ Japan’s Nikkei hits new highs after election

Japanese stocks reached their highest level since 1996 on Monday after polls showed that Prime Minister Shinzo Abe won a clear victory in national elections.

The Liberal Democratic Party (LDP) won 281 out of 465 seats in the lower house and its coalition partner Komeito won 29 seats.

As a result, the Nikkei index of leading Japanese shares rose for the 15th consecutive day to mark the longest winning streak on record. During trades on Monday, the index rose by 1.2%.

The yen climbed to a three-month low against the dollar, providing support for shares of Japanese exporters.

Meanwhile, China’s Shanghai Composite ticked up by 0.1% and Hong Kong Hang Seng dropped by 0.7%. The S&P/ASX 200 index of Australian stocks slid by 0.2% and South Korean KOSPI fell by less than 0.1%.