00:00Japan's stock market has surged to a record high after the ruling Liberal Democratic Party chose Sanae Takechi as its new leader.
00:10The pro-business politician is said to be Japan's next prime minister and the country's first female leader in a parliamentary vote later this month.
00:21The benchmark Nikkei 225 jumped nearly 5% on Monday, closing above 47,000 points for the first time ever.
00:30The yen, meanwhile, weakened sharply past 150 against the U.S. dollar.
00:36Takechi, a pro-business conservative, has held senior roles including Minister for Economic Security and Internal Affairs.
00:43Investors welcome the announcement of Takechi's victory in her party's leadership race, with shares rising in real estate, technology and heavy industry companies.
00:52Markets expect her administration to boost government spending and maintain pressure on the Bank of Japan to keep interest rates low.
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