The Nikkei 225 Index rallied 4.75% to close at 47,945 while the broader Topix Index jumped 3.1% to 3,225 on Monday, with both benchmarks hitting fresh record highs after a ruling party vote paved the way for fiscal dove and pro-stimulus lawmaker Sanae Takaichi to become Japan’s next prime minister. Among five candidates in the Liberal Democratic Party race to replace hawkish Prime Minister Shigeru Ishiba, Takaichi was seen as the most expansionary, firmly aligned with the late Shinzo Abe’s “Abenomics” policies. After her victory, Takaichi emphasized the need for close coordination between the government and the central bank to foster demand-driven inflation backed by higher wages and corporate profits. Technology shares led the advance, with notable gains from Advantest (14%), Disco Corp (5.9%), Tokyo Electron (7.3%), SoftBank Group (4.1%), and Lasertec (7.2%).