Nikkei 225 closes high as Shinzo Abe reclaims Japanese premiership
City Index December 17, 2012 2:15 PM
<p>The Nikkei 225 has closed higher after Japan’s Liberal Democratic Party won the general election.</p>
The Nikkei 225 in Tokyo has closed high and the yen has dipped on forex markets after Shinzo Abe reclaimed the Japanese premiership following the nation's general election yesterday (December 16th).
Mr Abe, leader of the Liberal Democratic Party, has said he will take decisive action to boost the world's number three economy, which has been grappling with years of unsatisfactory growth.
One of the major factors behind this sluggishness is the strong yen, which has made goods seem less attractive to overseas markets.
Mr Abe has said he wants to take steps to weaken the yen and target deflation, setting an ambitious goal of as much as three per cent rate of inflation and suggesting the Bank of Japan prints "unlimited" currency to counter falling prices.
This morning, the Nikkei 225 closed higher by nearly one per cent, rising by 91.3 points to an index value of 9828.8 points.
Learn all about CFD trading platforms and the Asian markets at City Index.
GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.