09.09.202500:50:52UTC+00Japanese Shares Hit Record Highs on Ishiba’s Resignation

The Nikkei 225 Index increased by 0.9% to exceed the 44,000 mark, while the broader Topix Index rose by 0.4% to reach 3,150 on Tuesday, with both indices achieving new record highs following the announcement of Prime Minister Shigeru Ishiba's resignation. Ishiba declared on Sunday that he would resign, citing growing divisions within the ruling party and weeks of pressure following his defeat in the national election late last year. The resignation also coincided with Japan's challenges in securing trade concessions from the United States. Last week, the two countries finalized an agreement that reduced US auto tariffs on Japanese vehicles from 27.5% to 15%, while also allowing US-made automobiles to enter Japan without additional testing, among other provisions. The gains were primarily led by technology companies, including Advantest, which rose by 6.6%, Disco, which saw a 1.9% increase, and Tokyo Electron, which went up by 3.5%, alongside significant contributions from the industrial, financial, and consumer sectors.