John Authers, Columnist

Japan Bulls Pray for a Helicopter Lift After Suga’s Demise

Stock investors blame the outgoing premier for not splashing enough cash. His successor may have more luck.

September 8, 2021 at 5:05 AM UTC

John Authers is a senior editor for markets and Bloomberg Opinion columnist. A former chief markets commentator at the Financial Times, he is author of “The Fearful Rise of Markets.”

What the Japan bulls want to see.
Photographer: Koichi Kamoshida/Getty Images

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It must be hard to be Yoshihide Suga at the moment. The man who took over as Japan’s premier a year ago when the long-serving Shinzo Abe resigned due to bad health, announced last week that he wasn’t running for re-election. That means he will no longer be prime minister at the end of this month. And the market is overjoyed to see the back of him.

The immediate response to the news has seen the Topix index, covering the broad Tokyo Stock Exchange, surge above the 2,000 level to set a new 30-year high. The rally has been sharp and impressive: