Stocks hit longest record winning streak

October 23, 2017

TOKYO- The benchmark Nikkei average rose for the 15th straight session on the Tokyo Stock Exchange on Monday, marking its longest winning streak since the index was created after the market reopened in 1949 after the end of World War II.

The 225-issue Nikkei average gained 239.01 points, or 1.11 pct, to end at 21,696.65, its best finish since July 15, 1996. The key market gauge rose 9.12 points on Friday.

The TOPIX index of all first-section issues extended its winning streak to an 11th session, closing up 14.61 points, or 0.84 pct, at 1,745.25. On the previous trading day, the index gained 0.60 point.

Stocks spurted as investors were relieved that a landslide victory by Japanese Prime Minister Shinzo Abe's ruling coalition in Sunday's general election will allow his Abenomics economic policy to continue, brokers said.

The ruling camp secured more than two-thirds of seats in the House of Representatives, the all-important lower chamber of parliament, the level needed to put any constitutional revision to a national referendum. Jiji Press