Japan's LDP Loses Majority

This is a Japan news story, published by MSN, that relates primarily to Shigeru Ishiba news.

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prime minister Shigeru Ishiba

Telegraph

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What next for Japan? Ruling party loses majority after scandals and soaring inflation

Summary

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80% Informative

Shigeru Ishiba announced snap election earlier this month , just three days after he was elected leader of the conservative Liberal Democratic Party ( LDP ) However, in an unusually dramatic turn for a nation long viewed as a stalwart of stability, the LDP and its coalition partner Komeito secured only 215 seats in the powerful lower house of parliament.

Results mark a significant power shift on Japan ’s traditionally stable political landscape and cast growing concerns over the future direction of the ruling party.

Japan 's benchmark Nikkei 225 surged 1.6 per cent in Monday morning trading to 38,527.52 .

The yen dropped 1 per cent to 153.84 per dollar and by a similar margin against the euro to 165.87 .

Analysts say the ruling party’s defeat had been greatly expected and factored into markets.

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formal

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English

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