Nikkei bounces following Japanese election

<p>Shinzo Abe’s win has boosted the Nikkei today.</p>

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.

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