Japanese stocks whipsawed on Tuesday and the yen dropped as Sanae Takaichi won a crucial parliamentary vote to become prime minister, opening the way for more fiscal spending.
Trade was choppy with the Nikkei 225 Stock Average slipping 0.1% at one point as some investors were quick to take profits from their earlier bets on her stimulus. It rose as much as 1.6% earlier in the day to just shy of the psychologically important 50,000 level. The yen weakened 0.5% against the dollar in volatile trade.
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