September 17, 2021

Japan’s stock market emerges as clear winner of Suga’s abrupt resignation

FILE PHOTO: Japanese Prime Minister Yoshihide Suga attends a news conference on Japan’s response to the coronavirus disease (COVID-19) outbreak, at his official residence in Tokyo, Japan, June 17, 2021. REUTERS/Issei Kato/Pool/File Photo/File Photo

TOKYO/SINGAPORE, Sept 6 (Reuters) – While the race for ruling party leader remains wide open, the Japanese stock market has emerged as a clear winner of Prime Minister Yoshihide Suga’s abrupt departure, with the broad Topix index (.TOPX) soaring to 31-year highs.

Suga said on Friday he would not seek reelection at the Liberal Democratic Party (LDP) leadership race this month and would step down, setting the stage for a new premier. Suga’s one-year tenure as prime minister was marred by an unpopular COVID-19 response and dwindling public support. read more

Since Suga’s shock announcement, the Nikkei (.N225) has gained almost 4% to its…

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