Nikkei surges 500 points after PM Suga resignation

Monday, 06. September 2021 07:25

Major stock markets in the Asia-Pacific region traded mostly positive deep into Monday's session, with the Nikkei soaring as much as 500 points following the decision by Japanese Prime Minister Yoshihide Suga to step down once his term expires later this month.

On the election front, Sanae Takaichi yesterday allegedly secured enough votes within the ruling Liberal Democratic Party to join the race to succeed Suga. The Nikkei 225 jumped by 1.80% or 524 points at 7:21 am CET, with the dollar gaining 0.10% against the yen to trade for 109.8005.

Meanwhile in Australia, the country's second-most populous state of Victoria reported a major increase in COVID-19 cases as the government hinted lockdown would likely be eased. The S&P/ASX 200 lost 0.42% at 7:22 am CET. South Korea's Kospi Composite fell 0.19% a minute later.

In China, the Shanghai Composite increased by 0.99% and the Shenzhen Composite advanced 1.56% at 7:09 am CET, while the Hang Seng surged 0.74% or 191 points at 7:24 am CET.

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Breaking the News / ND