Nikkei 225 Poised to Recover From August Rout on LDP Election
- Blue-chip gauge exceeds July 31 close in on LDP election
- Further gains hinge on run-off between Takaichi and Ishiba
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Japan’s Nikkei 225 Stock Average headed for a full recovery from an August rout, as a Liberal Democratic Party leadership contest narrowed down to two candidates.
The blue-chip gauge extended gains to as high as 39,777.33, surpassing its close on July 31, the day the Bank of Japan hiked its policy rate to around 0.25% and unveiled plans to halve bond purchases. Exporters got a boost as the yen slid more than 1% against the dollar as the LDP contest turned into a run-off election between Sanae Takaichi and Shigeru Ishiba.