Prime minister Abe wins majority for historic third ter
Markets reacted positively on the news that prime minister Shinzo Abe has won a super majority in the most recent snap elections in Japan. With a two thirds majority for the Liberal Democratic party-led coalition the prime minster begins his historic third term at the helm of the Japanese economy. With this victory Abe now has a much stronger mandate from the country to continue pursuing his economic reform agenda coined Abenomics. The PM also intends to begin implementing new constitutional reforms in Japan, starting with a clause to recognise the legality of Japans armed forces. With the Yen weakening on the news the Nikki 225 rallied a further 1% in overnight trading setting a record of 16 straight days of gains for the index.