Liberal Democratic Party (LDP) named Sanae Takaichi as its new leader<\/a>, positioning the pro-business politician to be Japan’s next prime minister.<\/p>\n\n\n\nThe benchmark Nikkei 225 index jumped by more than 4% on Monday morning in Tokyo as it rose above 47,000 for the first time.<\/p>\n\n\n\n
Takaichi is known for her support of higher public spending and lower borrowing costs.<\/p>\n\n\n\n
She is also a long-time admirer of former UK prime minister Margaret Thatcher and her free market approach to economics.<\/p>\n\n\n\n
Investors welcomed the announcement of her victory in the LDP leadership race, with shares rising in real estate, technology and heavy industry companies.<\/p>\n\n\n\n
While the Japanese stocks rose, the yen hit a record low against the euro. It also fell by more than 1.5% against the US dollar.<\/p>\n\n\n\n
If confirmed later this month as the successor to Shigeru Ishiba, Takaichi will be Japan’s first female prime minister.<\/p>\n\n\n\n
She will have to contend with a sluggish economy and households grappling with higher costs and slow wage growth.<\/p>\n\n\n\n
Takaichi will also have to navigate a challenging US-Japan relationship and see through a tariff deal with US President Donald Trump’s administration, which was previously agreed by the Ishiba government.<\/p>\n\n\n\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
BBC: Japanese stocks have hit a record high after the country’s ruling\u00a0Liberal Democratic Party (LDP) named Sanae Takaichi as its new leader, positioning the pro-business politician to be Japan’s next prime minister. The benchmark Nikkei 225 index jumped by more than 4% on Monday morning in Tokyo as it rose above 47,000 for the first time. Takaichi is known for her support of higher public spending and lower borrowing costs. She is also a long-time admirer of former UK prime minister Margaret Thatcher and her free market approach to economics. Investors welcomed the announcement of her victory in the LDP… <\/p>\n","protected":false},"author":1,"featured_media":50615,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-50614","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-in-english"],"_links":{"self":[{"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/posts\/50614","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=50614"}],"version-history":[{"count":2,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/posts\/50614\/revisions"}],"predecessor-version":[{"id":50618,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/posts\/50614\/revisions\/50618"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/media\/50615"}],"wp:attachment":[{"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=50614"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=50614"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=50614"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}