Tokyo stocks surged more than four percent to a record high Monday and the yen sank on bets that the new leader of Japan's ruling party will embark on a new era of loose monetary policy to kickstart the country's economy.
News of the victory for Sanae Takaichi -- who is expected to become prime minister this month -- fanned a fresh wave of optimism on Japanese trading floors as she has previously backed aggressive monetary easing and expanded government spending.
