japan( Tokyo) Japanese Prime Minister Ishiba Shigeru’s decision to resign rippled through financial markets on Monday, with investors trying to position themselves for the policies of a new administration.
Tokyo’s benchmark Nikkei 225 stock index gained ground, rising more than 800 points at one stage in early trading, or up 1.9 percent from Friday’s close.
Market analysts say investors are trying to crystal-ball the economic policies of a new cabinet and trading shares accordingly.
In the meantime, currency traders sold the Japanese yen due to the political instability. It weakened to the 148-yen level against the dollar at one point from mid-147 yen at the end of last week.
Analysts say the overall mood in the markets is cautious because Ishiba’s departure creates uncertainty about Japan’s future economic policy
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