Tokyo stocks soared Monday as a landslide victory for Japan's ruling coalition in weekend elections boosted stimulus hopes, while Nintendo rocketed as gamers snapped up its new smartphone offering. The benchmark Nikkei 225 index surged 3.98 percent, or 601.84 points, to finish at 15,708.82, while the broader Topix index of all first-section shares climbed 3.79 percent, or 45.91 points, to 1,255.79, its biggest one-day gain in nearly five months.
The parliamentary election sweep by Japan's ruling coalition fanned speculation that the government would soon launch a stimulus package to kick-start growth, after winning a strong mandate. "Investors are basically welcoming the victory of (Prime Minister Shinzo) Abe's ruling coalition," Daisuke Uno, chief market strategist of Sumitomo Mitsui Banking, told AFP.
On Monday, Nintendo was a stand-out, rocketing more than 20 percent and extending a rally sparked by news that its Pokemon GO - which connects a user's real-world location to the game as they try to catch on-screen characters - debuted at the top of gaming charts. In response, Toyota surged 4.86 percent to 5,301 yen while Nissan climbed 5.23 percent to close at 967 yen. Honda jumped 4.03 percent to 2,576 yen. Sony soared 3.98 percent to 3,133 yen, while factory robot maker Fanuc surged 4.25 percent to 16,160 yen.