Ishiba’s election as Japan’s next leader expected to rattle stock market

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Financial Times 12h ago

Ishiba’s election as Japan’s next leader expected to rattle stock market - Financial Times

Quick Summary:

Investors are already on the hunt for buying opportunities and compiling a basket of stocks considered likely to benefit from an Ishiba administration, including those involved in defence and disaster relief.

In the second week of September, when campaigning for the LDP leadership began, foreign investors were net sellers of ¥1.5tn ($10.6bn) in the cash equities market — their largest week of selling Japanese stocks since 1982, according to Kikuchi.

Before the winner of the leadership race was announced on Friday, Japan’s Nikkei 225 index had rallied 2.3 per cent and the yen had fallen, suggesting the market was positioned for a win by economic security minister Sanae Takaichi.