Japan elects its 1st female prime minister
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The acolyte of former Prime Minister Shinzo Abe is likely to make a sharp turn to the right on immigration and defence.
Japanese stocks have room to run after the “Takaichi trade” helped drive them to a record peak, according to UBS Global Wealth Management. “Japanese equities rallied to an all-time record high on Tuesday,
Sanae Takaichi was named Japan's first woman prime minister Tuesday, with the social conservative naming just two other women to her cabinet. She was approved by parliament as prime minister on Tuesday and was due formally to take office later in the day when she meets the emperor.
Japan's new prime minister, Sanae Takaichi, said on Tuesday she hoped the central bank would conduct monetary policy to sustainably achieve 2% inflation driven not just by rising raw material costs but also by wage gains.
The Innovation Party’s backing looks set to make Sanae Takaichi Japan’s first female PM, but analysts don’t expect their alliance to last.
Japan’s ruling Liberal Democratic Party (LDP) and the major opposition Japan Innovation Party (JIP) signed a coalition agreement on Monday, with LDP head Sanae Takaichi almost certain to become Japan’s first woman prime minister the following day, Kyodo News Agency reported.
The yen weakened on Monday as Sanae Takaichi, an advocate of fiscal and monetary stimulus, appeared all but certain to become Japan's next prime minister after reportedly securing crucial political backing for the top job.