Japanese stocks surged to a record high on Monday, as Prime Minister Sanae Takaichi’s Liberal Democratic Party (LDP) basked in a historic election victory.

The LDP secured 316 out of 465 seats in Sunday’s election, the first time a single party has won a two-thirds lower house majority since Japan’s parliament was established in its current form in 1947.

The Japan Innovation Party, the LDP’s coalition partner, won in 36 more constituencies, taking their combined total to 352 seats.

Japanese stocks surged to a record high on Monday, as Prime Minister Sanae Takaichi’s Liberal Democratic Party (LDP) basked in a historic election victory. majority since Japan’s parliament was established in its current form in 1947.