Japan Stimulus Set to Pass Easily After LDP Retains Majority
- Liberal Democratic Party win could provide a boots for stocks
- Premier has put off detailing many of his economic policies
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The outright majority secured for Japanese Prime Minister Fumio Kishida’s ruling party is expected to bring about a smooth passage of fiscal stimulus and ease concerns of political uncertainty, market players said.
Kishida’s ruling Liberal Democratic Party won 261 seats in a Sunday election to preserve its outright majority in the 465-seat lower house of parliament, public broadcaster NHK said. Although the party dropped from the 276 seats it held when parliament was dissolved, the LDP avoided worst-case scenarios that opinion polls had suggested beforehand. Nikkei 225 futures jumped 2.4% in Osaka Monday morning.