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Green Energy Stocks Surge in Japan on Bets for Anti-Nuclear PM

  • Taro Kono emerges as top contender to replace Yoshihide Suga
  • It isn’t know if Kono would maintain previous stance as leader
A solar farm on former farmland in the Yatsuda district of Namie, Fukushima Prefecture, Japan.

A solar farm on former farmland in the Yatsuda district of Namie, Fukushima Prefecture, Japan.

Photographer: Toru Hanai/Bloomberg

Frenzied buying from retail traders sent Japan’s renewable energy stocks soaring Monday as Taro Kono -- a politician known for opposing nuclear power -- emerged as a top contender to become prime minister.

Renova Inc., which operates solar and biomass power plants, soared 15% while solar energy firm West Holdings Co. jumped more than 9% to a record high. Nuclear power names were notable loser for the day, with Kansai Electric Power Co. dropping 2.7%.