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Historic Leadership Shift
- Sanae Takaichi's appointment is a historic shift as Japan's first female prime minister and signals cultural change in politics.
- Leo Lewis notes her self-made background and TV-presenter skills made her press performance unusually charismatic and confident.
Equity Rally Fueled By Reflation Hopes
- Japanese equities have rallied strongly this year, with the Nikkei hitting all-time highs on optimism around reflationary policy.
- Markets interpret Takaichi's economic emphasis and Abe-like reflation talk as supportive for stocks even if direct stock-targeting rhetoric is absent.
Trading-Floor Drama Over Round Numbers
- Nomura invited journalists to its trading floor ahead of a potential Nikkei 50,000 print, highlighting market theatre around round numbers.
- The index closed at an all-time high even though it narrowly missed that round number in-session.