Overview

• By 9:15 a.m. in Tokyo on Oct. 9, the Nikkei stood at 48,129.70, up 394.71 points, with exporter shares buoyed by the weaker currency.
• The yen traded in the upper ¥152s per dollar, quoted at ¥152.63–¥152.73 late in New York on Oct. 8 and around ¥152.73–¥152.75 in Tokyo morning dealings.
• Market participants described the coordinated move as the “Takaichi trade,” reflecting expectations for fiscal expansion under new LDP leader Sanae Takaichi.
• Reports noted long-term Japanese yields near a roughly 17-year high, a shift that can lift borrowing costs such as fixed-rate mortgages.
• Cross-market signals were mixed, with the Dow slipping for a third session even as the Nasdaq and S&P 500 finished at record highs.