Market views: how Abe’s departure impacts Japanese assets
The future of Abenomics, the Japanese prime minister's eponymous policies, have been cast into doubt after his resignation on August 28. What does this mean for local assets?
The sudden resignation of Japan’s longest-serving prime minister, Shinzo Abe, has jolted investors’ confidence in local equities. The benchmark Topix index dropped 1.66% on the day of the announcement last Friday (August 28), and the yen, seen as a safe-haven during volatile times, rose from 106.50 to 105.40 against the US dollar.
Nervousness is understandable given that the prime minister salvaged the Japanese economy from decades of stagnation, ended deflation, and provided supp…
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