CHENNAI: Asian markets opened on a mixed note on Monday, October 6, as investors reacted to major political developments in Japan and awaited key global economic signals. The standout performer of the morning session was Japan, where stocks surged sharply following the election of a new ruling party leader.
In Tokyo, the Nikkei 225 jumped more than 4 percent in early trade after the Liberal Democratic Party elected Sanae Takaichi as its new leader, positioning her to become Japan’s first female prime minister. The development boosted expectations of fresh fiscal stimulus and continued easy monetary policy. The yen weakened by about 1.6 percent against the US dollar, giving a further lift to exporters and manufacturing stocks.
Market participants interpreted the leadership change as a sign that Japan will likely maintain a pro-growth stance, potentially expanding government spending to support the economy. Financial, auto, and tech shares were among the top gainers during early trade.
Elsewhere in the region, trading was subdued. Hong Kong’s Hang Seng Index slipped slightly amid caution ahead of key economic data and lingering concerns over property sector stress. Chinese and South Korean markets were largely closed for public holidays, limiting overall regional activity.
Other Asia-Pacific markets, including Australia and Singapore, traded with mild gains, supported by firm commodity prices and a stable US dollar. Investors across the region also kept a close watch on global bond yields and the upcoming US economic releases that could guide risk sentiment later in the week.
Overall, the early session in Asia was defined by strong gains in Japan and quiet trade elsewhere. Analysts said Japan’s market strength helped set a positive tone for the region, though trading volumes remained thin and investors stayed cautious ahead of global macro updates.