Macron’s victory in France boosts Tokyo Stocks

Tokyo: The index of the Tokyo Stock Exchange rose more than 1.7 per cent as trading began on Monday following the victory of pro-EU candidate Emmanuel Macron in the French presidential polls.

It touched its best intraday level in more than 17 months, Efe news reported.

At 9.45 a.m., Japan’s benchmark Nikkei index accumulated a gain of 337.54 points, or 1.74 per cent, and stood at 19,783.24 points, its best intra-day mark since November 25, 2015.

The second index TOPIX, which groups the values rose 27.66 points, or 1.78 per cent, and stood at 1,577.96 units.

The victory of socio liberal Macron as new leader in the Elysee Presidential Palace, who won with 66.06 per cent of the votes over the right-wing Marine Le Pen, has given momentum to the Tokyo Stock Exchange after it was closed for three festive days in the Asian country.

Investors in Tokyo showed their relief after losing fears of a “Frexit” — France leaving the European Union — which Le Pen had promised if she won the elections.

All sectors listed in the first section earned profits, led by mining, insurance, crude oil and coal.