Tokyo: The Japanese stock indices closed at record highs in Monday’s trading session, while the yen fell and long-term bonds declined amid expectations of increased spending and continued accommodative monetary policy.
According to Qatar News Agency, the Nikkei index rose by 4.75 percent, closing at 47,944.76 points, after having touched an all-time high of 48,150.04 points. The broader TOPIX index also rose by 3.1 percent.
Shares of Mitsubishi Heavy Industries jumped by 11 percent, and shares of Japan Steel Works, which supplies nuclear power equipment, rose by more than 15 percent. This comes as Japanese 30-year government bond prices fell, with yields hitting a record high. The yield on two-year bonds also fell, reflecting market expectations that the Bank of Japan will raise interest rates later.
The yen dropped by about 2 percent against the dollar and hit its historic low versus the euro.