Japanese stocks have hit a record high after the country's ruling Liberal Democratic Party (LDP) named Sanae Takaichi as its new leader, positioning the pro-business politician to be Japan's next prime minister.
The benchmark Nikkei 225 index closed 4.75% higher on Monday, ending the day above 47,000 for the first time.
Takaichi, who has held senior government roles including minister for economic security and internal affairs, is known for her support of higher government spending and lower borrowing costs.
She is also a long-time admirer of former UK prime minister Margaret Thatcher and her free market approach to economics.