Japan's stocks slump after prime minister election; Shanghai benchmark soars more than 5%

Asian markets have had a wild start to the week, with Tokyo's Nikkei 225 index tumbling nearly 5% while Chinese markets soared on news of fresh stimulus for the faltering economyA man looks at monitors showing Japan's Nikkei 225 index at a securities firm in Tokyo, Monday, Sept. 30, 2024. Asian markets had a wild start to the week, with Tokyo’s Nikkei 225 index tumbling nearly 5% while Chinese markets soared on news of fresh stimulus for the faltering economy.

Exporters’ shares plunged, since a stronger yen is a disadvantage for Japanese companies that make a large share of their sales and profits overseas. Meanwhile, the Hang Seng in Hong Kong jumped 3.3% to 21,321.97, with Hong Kong’s Hang Seng Mainland Properties Index up 8.6%. The Shanghai Composite index surged 5.7% to 3,263.59.

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