Asian markets extend gains, Japan's Nikkei nears 50,000-level

Asian markets saw gains as Japan's Nikkei index neared the 50,000 level for the first time, influenced by the anticipation of Sanae Takaichi becoming the country's first female prime minister. Takaichi is expected to favor market-friendly policies, including low interest rates, which could lead to a weaker yen against the U.S. dollar and potentially hinder efforts to control inflation. Other Asian markets also advanced, with Hong Kong's Hang Seng and Shanghai Composite showing increases. Hopes for eased trade tensions between China and the U.S. contributed to this positive sentiment. South Korea's Kospi and Australia's S&P/ASX 200 also experienced gains, as did Taiwan's Taiex. This regional strength mirrored rallies in U.S. stock markets on the previous day, where the S&P 500 approached record highs, driven by companies like Apple. Cleveland-Cliffs saw a significant jump due to potential deals and discoveries. The market outlook is further shaped by upcoming corporate e... download the app to read more