Tokyo stocks rallied Monday as investors welcomed news of a fresh round of economic stimulus measures from the world’s third-largest economy.
The Nikkei Asian Review reported that Abe’s government will put together more than 10 trillion yen, or $99.33 billion, worth of stimulus measures.
“The freshly empowered prime minister is looking to rekindle Abenomics — his policy for reviving the nation’s economy. The package is also expected to include labor market reforms aimed at improving Japan’s growth potential,” the Nikkei reported, citing government sources.
Other Asian indices also ended higher. Hong Kong’s Hang Seng gained 1.5 percent to close at 20,880, while Shanghai’s SSE inched up 0.2 percent to finish at 2,995.