(Bloomberg) -- As Japan’s ruling party gets set to vote for a new leader who will then likely become the nation’s next prime minister, traders are preparing ...
-- As Japan ’s ruling party gets set to vote for a new leader who will then likely become the nation’s next prime minister , traders are preparing for the potential impact on the yen and shares of exporters, banks and energy companies.Waiting for the Miracle of Church-to-Housing Development
The Liberal Democratic Party leadership election set for Friday features a record nine contenders, though focus has narrowed to three leading candidates. Long-serving LDP politician Shigeru Ishiba and the younger Shinjiro Koizumi are both seen as fairly hawkish on monetary policy. Sanae Takaichi who, if elected, could become Japan’s first female prime minister, wants to keep interest rates low.
Investors have also expressed caution over Ishiba’s stance in favor of raising taxes on financial income. Among particular issues, Koizumi has said he would review restrictions on firing employees, which could lead to more mobility in the labor market and benefit companies such as Recruit Holdings Co. and Dip Corp.
“If she wins the LDP presidential election, the initial reaction in the markets will probably be a weaker yen, lower interest rates and higher stock prices,” said Naomi Muguruma, fixed income strategist at Mitsubishi UFJ MS Securities Co. “There is a sense that fiscal policy will be expanded and monetary easing will be prolonged.”One thing on which most of the candidates are united is support for the restart of nuclear power plants. Utilities such as Tokyo Electric Power Co.
Naval vessels from New Zealand and Australia sailed through the Taiwan Strait on Wednesday, according to a statement from New Zealand Defence Minister Judith Collins on Thursday. The two ships sailed through the contested strait from 2pm local time on Wednesday in what Collins described as a routine activity consistent with international law. "The New Zealand Defence Force conducts all activities in accordance with international law and best practice," she said in a statement.
Bloomberg Shinjiro Koizumi Japan Fumio Kishida Sanae Takaichi Junichiro Koizumi Interest Rates Monetary Policy Shigeru Ishiba Prime Minister Liberal Democratic Party Prime Minister Shinzo Abe Toshimitsu Motegi
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