Nikkei Rebounds Over 400 Yen to Regain 40,000 Mark After Upper House Election

TOKYO, Jul 22 (News On Japan) - The Nikkei Stock Average opened at 39,864 yen on July 22nd, up 45 yen from the previous session, marking the first trading day after the Upper House election. The index subsequently climbed more than 400 yen at one point, recovering the psychologically significant 40,000-yen level.

Although the ruling coalition of the Liberal Democratic Party and Komeito suffered a major setback by losing their majority in the Upper House, the market reacted calmly. Analysts noted that the outcome had been largely anticipated based on prior media coverage, with investor sentiment viewing the result as "within expectations."

In the foreign exchange market, the yen, which had been sold off before the election, saw renewed buying. The currency strengthened to the lower 147-yen range against the U.S. dollar at one point, reflecting a partial reversal of pre-election trading positions.

Source: TBS

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