Abe: on track for a big majority, 1hr to the official voting ending 11.00GMT
|While we are an hour away from the official voting ending, at 8 p.m local time and 11:00 GMT and further exit polls thereafter, the public broadcaster NHK reported that Abe's Liberal Democratic Party along with its coalition partner (Komeito) look on track for a big majority, at this stage likely above 310 seat threshold in the 465-seat House.
The final official results will be early European trade on Monday, so there could well be some moves on the back of this, although the market has mostly factored in the continuation of Abenomics and big easy money with the Nikkei 225 already up to 21 plus year highs. For the Yen, it is not a favourable scenario so USD/JPY, in theory, should remain on the front foot at the start of the week.
It has just been reported that Abe will reappoint all Cabinet Members after the election victory says Yomiuri. In respect to BoJ Governor Haruhiko Kuroda, whose term is up in 2018, it is a coin toss as to whether he will stay on for a second term, but his successor will likely remain to maintain the central bank's dovish stance considering the subdued inflation.
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