If Prime Minister Sanae Takaichi calls a snap election as local media has reported, history says investors in the stock market will benefit, at least in the short term. The benchmark Topix index has posted gains, in the last 10 of 12 Lower House elections held since 1990 during the month or so period between dissolving the parliament and the new election, according to data compiled by Bloomberg. S...
If Prime Minister Sanae Takaichi calls a snap election as local media has reported, history says investors in the stock market will benefit, at least in the short term. The benchmark Topix index has posted gains, in the last 10 of 12 Lower House elections held since 1990 during the month or so period between dissolving the parliament and the new election, according to data compiled by Bloomberg. Some analysts have expressed a similar tone, saying that Japanese stocks could keep rising for several months if Takaichi — who is enjoying high approval ratings — decides to call an election early. If Takaichi wins a called election, expectations of a stable economic policy will rise, potentially leading to about a six-month stock rally, said Eiji Kinouchi , chief technical analyst at Daiwa Securities in a report last week. If the Lower House gets dissolved in January, the Nikkei 225 could reach 68,000 in July-September, about 30% higher than the closing price on Friday, he said. Read More: Japan’s Takaichi Eyes February Snap Poll to Solidify Power In three cases where the LDP gained the most number of seats — in the 2005 landslide victory of Junichiro Koizumi , 2012 when Shinzo Abe formed his second cabinet and in 2014 — the stock market gains were the most substantial six months on, at 44%, 70% and 18% respectively. Yet, not all early gains held. In 6 of the 12 cases, the gains flipped to losses by the six-month mark. Stock prices tend to rise on elections due to expectations of a stable government foundation and economic policies, hopes which are often fueled by high popularity ratings. The approval rating for Takaichi in December was 64% according to NHK, better than the 50-60% range for Koizumi in 2005 and matching Abe around the time of the formation of his cabinet in 2012. That said, “an early dissolution of parliament is unlikely if the ruling party grows more cautious,” Citigroup Global Markets Japan’s strategists including Ryota Sakagami wrote in a note Monday. A ...
Malaysian police are investigating after a viral road-rage video showing a Ferrari driver aggressively chasing another driver triggered a wave of online fury in the country. Social media users turned their ire on perceived elite entitlement after the Ferrari driver was identified as the co-founder of a local streetwear brand. The label, Stoned & Co, said it had suspended co-founder and managing di...
Malaysian police are investigating after a viral road-rage video showing a Ferrari driver aggressively chasing another driver triggered a wave of online fury in the country. Social media users turned their ire on perceived elite entitlement after the Ferrari driver was identified as the co-founder of a local streetwear brand. The label, Stoned & Co, said it had suspended co-founder and managing director Tan Jia Hui after a video circulating over the weekend showed him tailgating and blocking a...
(RTTNews) - NCR Atleos Corp. (NATL), an ATM & ITM solutions company, on Tuesday said it has entered into a strategic collaboration with Epirus Bank to modernize the bank's ATM network and expand access to cash across Greece, using Atleos' ATM as a Service model and its Cashzone n
(RTTNews) - NCR Atleos Corp. (NATL), an ATM & ITM solutions company, on Tuesday said it has entered into a strategic collaboration with Epirus Bank to modernize the bank's ATM network and expand access to cash across Greece, using Atleos' ATM as a Service model and its Cashzone n