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Tuesday, 18th December 2012
In General Japan News,

Liberal Democratic Party leader: 'Victory does not mean trust'

Japan's Liberal Democratic Party leader Shinzo Abe has suggested that the result of the recent election is no indication of complete trust in the current leadership.

Speaking at a news conference on Monday (December 18th) Mr Abe said: "Our victory this time does not mean trust in the Liberal Democratic Party has been completely restored.

"Rather, it was a decision by the public that they should put an end to the political stagnation and confusion over the past three years, caused by the Democratic Party's misguided political leadership."

Following the results of the election, Japanese shares soared while the yen suffered another fall against the US dollar.

The economic outcome of the election was foreseen, according to Kyohei Morita, chief economist at Barclays Securities Japan, who was quoted by the BBC.

Mr Morita said: "The Liberal Democratic Party's (LDP) big victory is in line with market expectations and it will help to keep the yen weak and share prices high, at least for now."

Written by Mark Smith



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