#sanae-takaichi

#sanae-takaichi

The US president, who is in Japan on the second leg of a week-long tour of Asia, and Takaichi quickly signed an agreement laying out a framework to secure the mining and processing of rare earths and other minerals. The agreement follows China's recent decision to tighten export controls on the materials, which are crucial for a wide range of products.

Japanese stocks surged over 4% on Monday and the yen fell after Sanae Takaichi was elected to lead the country's ruling party. The Nikkei 225 Index was up 4.6%, soaring to 47,852.29, after earlier passing the 46,000 mark for the first time ever. The yen fell, reaching 149.76 yen against the dollar and hitting a record low against the euro.

Conservative hard-liner Takaichi is the former internal affairs minister of Japan. She holds hawkish views on China, and has also visited the controversial Yasukuni Shrine, which memorializes Japan's war dead.