Strategists See Japan Asset Drop After Coalition Loses Majority [Yahoo! Finance Canada]
SUMITOMO MITSUI TR S/ADR (SUTNY)
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Source: Yahoo! Finance Canada
Most Read from Bloomberg Political uncertainty will likely weigh on sentiment for investors in Japanese assets after a gamble by Prime Minister Shigeru Ishiba to call a snap lower house election backfired. Public support for the LDP has nosedived after revelations last year that party members were secretly enriching themselves with funds from supporters. This is what analysts and strategists are saying: “Japanese stocks will be sold off due to the uncertainty over the future of the political situation,” said Jumpei Tanaka, a strategist at Pictet Asset Management Japan Ltd. “There is also a possibility that Prime Minister Ishiba will be forced to step down, and this is also expected to weigh on Japanese stocks.” “Although there will probably be pressure to sell the yen against the US dollar, there is also a ‘sell Japan' aspect, so the positive effect of a weaker yen on Japanese stocks is expected to be limited.” Downside Risks “There are downside risks for the equity mar
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