TOKYO, Oct 27 (Reuters) - Japan's Nikkei share average

climbed past the 50,000 level for the first time on Monday,

continuing a run of successive records on expectations of

sizeable spending from the nation's new prime minister.

Crossing the key psychological threshold is the latest

milestone for the blue-chip share gauge that has been red hot

since fiscal dove Sanae Takaichi began her ascent to power.

The Nikkei 225 Index jumped 1.6% to 50,080.49 in

early trading.

The gauge broke through 45,000 on September 16 and has

marched through successive round numbers at a rapid clip. It

marks a dramatic turnaround for a long-moribund market that saw

the Nikkei take 34 years to finally recover to its Bubble

Economy peak in February 2024.

The index rose to the brink of 50,000 last Tuesday, when

Takaichi cleared a parliamentary vote to become premier. The

Nikkei finished the week 3.6% higher as Takaichi pledged a

proactive spending policy, with an economic stimulus package

expected to exceed 13.9 trillion yen ($92.2 billion).

"Fiscal packages tend to be welcomed by the market,

irrespective of their actual impact on the overall economy,"

said Norihiro Yamaguchi, lead Japan economist at Oxford

Economics.

"The fact that Takaichi's policy focus is on strategic

investment and other market-friendly areas is another reason why

the stock market reacted strongly."

Japanese equities have been on the upswing since mid-July,

when an electoral drubbing for the ruling Liberal Democratic

Party sparked bets that fiscally hawkish Shigeru Ishiba would

resign as prime minister.

Ishiba finally announced in September he would step aside,

setting up a party leadership vote won by Takaichi, a devotee of

the "Abenomics" stimulus policies of late premier Shinzo Abe.

($1 = 150.7800 yen)