Sales tax hike, snap poll put Abe in a bind
Tokyo markets on edge as his decisions could dictate direction
Tokyo
SPECULATION and confusion continued to swirl in Tokyo's financial markets on Friday over whether Prime Minister Shinzo Abe would call a snap general election upon his return from the weekend G-20 summit in Australia, and also delay implementing a consumption tax hike.
The uncertainty put equity and currency markets on edge as an announcement of an election and a postponment of the tax hike could send what are already seen as "oversold" Tokyo stock prices higher, and the yen lower; the absence of an announcement could give stock and currency markets a corrective jolt.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Israel concerned over possible ICC arrest warrants related to Gaza war
China’s top airlines improve balance sheet in Q1; outlook positive for May Day
G7 reaches deal to exit from coal by 2035
US, Britain urge Hamas to accept Israeli truce proposal
Saudi Arabia says economic revamp momentum intact as plans shift
German inflation creeps up to 2.4% in April