|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |   
Wednesday 10th of October 2007

FM Main:

FM News:

FM Features:

FairInvestment:

Tokyo equities up on election


by Brian Turner
September 12, 2005
Foreign stocks down on leading ADR index

The Tokyo equities markets were up substantially on the landslide election victory Sunday of Prime Minister Junichiro Kozumi’s Liberal Democratic party, as foreign investors seemed particularly enthusiastic in the post-election buying.

Upward revision of second-quarter gross domestic product figures also helped the markets to their gains. GDP growth was put at 0.8 percent in the second quarter, up from the original figures of 0.3 percent.

The Nikkei 225 was up 1.6 percent to 12,896.43, while the Topix index gained 1.3 percent to 1,309.80.

The LDP won 296 seats in the lower house of parliament, the first single-party majority there in 15 years. In addition the LDP’s coalition partner, the New Komeito party, won 31 seats, bringing administration-friendly seats to more than two-thirds of the lower house.

Analysts say that this all but guarantees that the prime minister’s postal privatization bill will pass when it is reintroduced in the autumn.



Email This Post Email This Post Print This Post Print This Post

Discuss this in the Finance Markets forums

Add to Bookmarks:

ADD TO DEL.ICIO.US     ADD TO DIGG     ADD TO FURL

ADD TO STUMBLEUPON     ADD TO YAHOO MYWEB     ADD TO GOOGLE     ADD TO SPURL

Related financial stories:

 Sterling down after election: ...

 German election results cause investor concern: ...

 Dollar nearly flat after election results: ...

 Carmakers higher in Tokyo: ...

 Most European utilities higher: ...

Previous: « Foreign stocks down on leading ADR index
Next: World employers optimistic for Q4 »

Visited 135 times, 1 so far today