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Japan shares higher on PM Abe election victory www.bbc.com
Japanese shares have moved higher on Monday after Prime Minister Shinzo Abe's government claimed a major election victory over the weekend.
Mr Abe's party won in an election for the upper house of parliament, saying that voters backed his economic policies.
Tokyo's Nikkei 225 was 2.6% higher at 15,495.15 in Monday morning trade.
The strong performance was in spite of data showing machinery orders for the past month lower than expected.
Mr Abe said the election result was a vote of confidence on his economic policies, although he has admitted himself that his Abenomics, aimed at ending debilitating deflation, are only "half done".
"We were given approval for our mandate to powerfully pursue Abenomics. We would like to continue with our efforts to achieve what we have promised," he said.
Strong US lead
Investors also took a positive cue from US jobs data on Friday, which came in stronger than expected.
US shares had finished higher last week on the back of the optimistic data.
In Australia, shares were up in morning trade, 1.7% higher at 5,317.70 points.
Markets were also reacting to the country's Prime Minister Malcolm Turnbull declaring victory for his Conservative coalition in last week's closely fought general election.
South Korea's benchmark Kospi was also in line with the broader regional trend, trading 0.8% higher at 1,977.81 points.
Published Date:2016-07-11
