Japanese stocks jump to 21-year high after Abe wins parliamentary elections

Japanese stocks closed higher on Monday in the first session of the week, with the Nikkei index continuing its gains for the 15th consecutive session, hitting its highest level in 21 years, supported by a weaker yen after Prime Minister Shinzo won early parliamentary elections.

The benchmark Nikkei index closed at 239.01 points, or 1.11%, at 21,696.65, its highest level since September 1996. The broader TOPIX index was up 14.61 points, or 0.84%, at 1,745.25.

The Nikkei average rose 0.1% on Friday, its 14th straight gain in the longest daily gain in 50 years, and the Topix index added less than 0.1%.

Over the past week, the Nikkei gained 1.4%, its sixth weekly gain in a row, among the longest weekly gain in more than a year.

The yen fell 0.5% against the US dollar, extending losses for the second day in a row, hitting a three-month low of 114.10 yen, extending gains from export stocks.

Japan's Prime Minister Shinzo Abe's party won a major victory in Sunday's parliamentary election, the ruling coalition said, and the ruling coalition retained more than two-thirds of the seats in the House of Representatives.

S & P 500 futures rose 0.2%, their highest level ever before the opening of the official session on Wall Street, and ended the index Friday, up 0.5% to record a new record at 2,575.44 points.