New Delhi, Jan. 14 -- Japanese equity benchmarks scaled to new record levels on Wednesday amid expectations that Prime Minister Sanae Takaichi may call a snap election, potentially as early as February.

If announced, it would mark Takaichi's first electoral test before Japanese voters.

The Nikkei 225 surged 1.51%, breaching the 54,000 milestone for the first time, after jumping more than 3% to a record close on Tuesday. The broader Topix index also extended its rally, advancing 0.86% to fresh highs.

Meanwhile, the Japanese yen weakened beyond the 159 level against the US dollar, sliding to its lowest point since July 2024, when authorities last stepped in to curb the currency's decline.

Nikkei 225 futures jumped after the Yomiuri Shim...