Japanese stocks closed higher for a 15th consecutive day while other Asian shares wavered on Monday following a snap election in Japan on Sunday. The dollar also spiked to more than three-month highs against the yen during the session.
Japanese Prime Minister Shinzo Abe's ruling coalition secured a two-thirds "super majority" after winning 312 out of 465 seats available at Sunday's election, Reuters said, citing local media. Abe's solid win at the polls points to a continuation of fiscal and hyper-easy monetary policies under his Abenomics program.
Those developments were cheered by investors, with Japanese equities popping at the open. The Nikkei 225 surged 1.11 percent, or 239.01 points, to close higher for a 15th straight session at 21,696.65. Exporters notched gains on the softer Japanese currency: Nissan closed up 1.67 percent, Mitsubishi Motor was up 2.12 percent and Sony rose 0.94 percent. The broader Topix finished the session higher by 0.84 percent.
Following the news, the dollar also spiked fetched as high as 114.09 yen in the session — its highest levels in more than three months. The greenback traded at 113.75 at 3:03 p.m. HK/SIN.
While the election result had been largely expected, the strong mandate resulting from Abe's convincing victory "made all the difference for markets," Jingyi Pan, a market strategist at IG, said in a note.
Across the Korean Strait, the Kospi was little changed, closing up 0.02 percent at 2,490.05. Gains in blue-chip tech names were offset by declines seen in manufacturing plays and brokerages.
Down Under, the S&P/ASX 200 reversed early gains to close off 0.22 percent at 5,894.
Meanwhile, Hong Kong's Hang Seng Index declined 0.46 percent by 3:02 p.m. HK/SIN as property, gaming and oil stocks declined. Insurer AIA fell 1.5 percent.
Mainland markets, however, closed a touch above the flat line: The Shanghai Composite edged up 0.11 percent to end at 3,382.2729 and the Shenzhen Composite climbed 0.619 percent to finish at 2,012.0523.
Markets in Thailand and New Zealand are closed today for public holidays.