Political waves send Nikkei, bitcoin, gold soaring to record highs

People walk in front of a screen displaying Japan's Nikkei share average, as the Tokyo Stock Exchange started trading after Japan's governing Liberal Democratic Party elected a new leader on October 4, outside a brokerage in Tokyo, Japan, October 6, 2025. REUTERS/Androniki Christodoulou TPX IMAGES OF THE DAY

TOKYO: Japanese stocks surged more than 5% to an all-time high while the yen skidded on Monday after fiscal and monetary dove Sanae Takaichi was elected as leader of the ruling party, putting her on course to become the nation's first female prime minister.

Gold climbed to a record peak close to $4,000, while leading cryptocurrency bitcoin rallied to a lifetime high on Sunday, with investors increasingly turning to alternative assets as a store of value as the U.S. government shutdown frayed nerves.