Nikkei 225 Rises to Eight-Month High on LDP Win, Tepco
This article is for subscribers only.
Japanese shares gained, with the Nikkei 225 Stock Average rising to its highest in eight months, as the yen fell after the Liberal Democratic Party regained power. Tokyo Electric Power Co. led gains on expectations the new government will allow the restart of nuclear reactors.
Tokyo Electric, also known as Tepco, surged 33 percent to lead utilities higher. Fast Retailing Co., Asia’s biggest clothing retailer, gained 2.9 percent. Toyota Motor Corp., the world’s biggest carmaker, rose 0.6 percent after the yen weakened against the dollar. Property-developer Tokyo Tatemono Co. increased 5.9 percent.