LIKELY TO WIN
The clock was ticking for Takaichi to be appointed.
United States President Donald Trump is due to visit at the end of the month on his way to the Asia-Pacific Economic Cooperation (APEC) summit in South Korea.
Details of a trade deal between Washington and Tokyo remain unresolved, and Trump also wants Japan to stop Russian energy imports and boost defence spending.
The LDP’s new coalition with JIP is still two seats shy of the lower house majority needed for Takaichi to be appointed.
But Takaichi is still likely to win since, in a second-round runoff vote, she only needs more support than the other candidate.
The announcement of a new coalition pushed the Nikkei 225 index up more than three per cent to a new record above 49,000 points.
Yutaka Miura, analyst at Mizuho Securities, said that investors were cheered by hopes of “proactive fiscal policies” by Takaichi, Bloomberg reported.
Takaichi has in the past backed aggressive monetary easing and expanded government spending, apeing the “Abenomics” named after her mentor, former premier Shinzo Abe.
https://www.channelnewsasia.com/east-asia/japan-set-new-coalition-and-first-woman-pm-5412716
