Japan's Nikkei stock index jumps nearly 5% after its ruling party picked Takaichi to lead

Japan's Nikkei stock index jumps nearly 5% after its ruling party picked Takaichi to lead Updated 21 mins ago Japan’s Nikkei stock index has jumped nearly 5% after its ruling party chose an ultra-conservative as its leader and likely first woman prime minister. Other Asian markets also were mostly higher. The Liberal Democrats elected Sanae Takaichi, an ally of the late Prime Minister Shinzo Abe, as their leader, likely ensuring she will carry on with market-friendly policies. On Friday, U.S. stocks hit more records. The S&P 500 inched up by less than 0.1% to close out its seventh winning week in the last nine, and the Dow Jones Industrial Average climbed 0.5%. Both added to their all-time highs. The Nasdaq composite lost an early gain and slipped 0.3% from its own record.