-
Japan:
Second India-Japan strategic dialogue on economic issues
China:
India-Brazil-South Africa to cooperate in health sector
South Korea:
South Korea Gives US Beef The All Clear
India:
Indian government approves re-structured APDRP
Pakistan:
Restoration of Indo-Pak dialogue to push trade
Singapore:
India-Brazil-South Africa to cooperate in health sector
Thailand:
Fastest Growth for Thailand Economy in Six Quarters
Taiwan:
Taiwan Enjoy Expanded Trade Surplus
Indonesia:
Central Bank Chief Of Indonesia Detained
Malaysia:
Malaysia economy grows and banking liberalises
Nikkei Losses After Abe Resigns
by Stewart DouglasThe Japanese Nikkei stock exchange has fallen after Prime Minister Shinzo Abe announced his resignation from office in a shock move today, which sees widespread uncertainty as to who will assume leadership.
The Nikkei experienced losses of around 0.5% over the course of trade, despite the influence of positive news from OPEC and the troubled US economy, off the back of the unpredicted move by Mr Abe to resign with immediate effect.
Investors saw the instability caused by an abrupt change of leader as the perfect opportunity to offload shares, leading to the overall negative trading value through the day, in spite of strong results across the world since OPEC announced to up oil production as of November.
Prime Minister Abe had been involved in several high profile scandals during his year in office tarnishing his reputation and that of his cabinet, resulting in an inability to achieve much of his pre-election reforms in the wake of political deadlock.
Additionally, after having lost control of the upper house of Parliament earlier this year in a first for Japense democracy, the opposition Democratic Party had the ability to stall and even veto any proposed legislation.
Many within Mr Abe’s own Liberal Democrat Party had been calling for Mr Abe to resign for a number of weeks, after a series of political blows affected his short premiership beyond tenability.
Despite several cabinet reshuffles towards the end of his reign, Mr Abe was unable to revive confidence in his abilities as leader of Japan, despite his initial grand forecasts for reform and change, particularly within the economy.
However, analysts are predicting that the short term effects on shares will transform into a beneficial impact overall, as investors move away from the turbulent governance experienced during Mr Abe’s reign.
Add to Bookmarks:
Stories related to: Nikkei Losses After Abe Resigns
- Airlines sector sees losses in Tokyo
- Chip-related companies see losses in Tokyo
- Credit Losses Push Asian Stocks Down
- Nikkei 225 drops 0.7 percent
- Nikkei, Topix lose on day
- Nikkei adds just 0.1 percent
- Nikkei 225 gains 1.6 percent
- Nikkei Plummets After US Fears Continue
- Nikkei, Topix down on day
- Nikkei 225 drops 1.9 percent
Visited 106 times, 1 so far today