The Nikkei is up today (July 22nd) on the back of the election win for Japanese leader Shinzo Abe.
Mr Abe's victory had been expected but it still led to the index finishing the day 0.5 per cent higher, though this was down from the 1.2 per cent gains recorded early in the session.
According to a report by Reuters, Nissan Motor underperformed as the dollar slid below 100 yen.
A trader in Tokyo said overall flows were light, adding: "The results of Sunday's election are pretty much fully priced in and we're seeing more sell on the fact type moves."
European markets are expected to perform strongly today as a result of Mr Abe's victory in the Japanese elections.
The Nikkei gained for a fifth week in a row last week, even though it lost 1.5 per cent of its value on Friday to cancel out some of the progress made in the three previous days.
Learn about the Asian markets and CFD trading at City Index
StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.