Tokyo stocks plunge as new Kishida gov't disappoints market

Plunges, as does the populations grasp on hope of a happy future.

Well it was. Abe appointed cronies…so what more do you expect? So glad I have no income tax debts here to pay for this sham and scam.

Haha, love it. Sadly the average Japanese person has no interest in the stock market so as usual nothing will change. Set their pensions on stock market performance like an American 401k and I bet people start making better voting decisions.

But the Nikkei index quickly gave up its advances and extended losses, declining for the sixth consecutive day for the first time since July last year, as a reported lineup of Cabinet ministers under the Kishida government failed to raise market's expectations of economic reforms.

Kishida has promised economic reforms, raising wages and reversing Japan's slide toward neofeudalism. Those are not that kinds of reforms that the stock market likes.

They would rather more guarantees of public treasury bailouts and easy Fed money.

Many market participants were also becoming wary of Kishida's economic policies which include redistribution of wealth such as by possibly raising the tax rate on profits from sales of shares, Fujito said.

Yes there is nothing attractive in Kishida Kapitalism; at least Abe’s third arrow of structural reforms /sounded/ as if it could be good (I bought Abenomics as he pleaded himself back in the day, before selling it when he did a ridiculous 300,000 yen handout at some stage a few years later; never regretted putting the money to work in S&P 500, although after hearing Biden’s plans I switched to simple global stock index rather than be expressly overweight US stocks).

Kishida Kapitalism is a wash from the start; it’d be amusing if it were even a loser in the election, but unfortunately the main opposition party has pretty much the same policies.

I hold out hope for the Isshin party, but they don’t have any popularity whatsoever nationwide.

Set their pensions on stock market performance like an American 401k and I bet people start making better voting decisions.

Well the GPIF does invest a portion in stocks, but you are right that it’s such a small amount - most pension outlays are funded by tax-or-borrow-and-spend.

If everyone’s pension fund were 100% an individual iDeCo style account, that could see a change in voting perhaps? But Japanese voters seem accustomed to the notion of the ruling class telling them how it will be.

Stocks "PLUNGE"..... a 1.3% drop is hardly a plunge.

"Toilet manufacturer Toto dropped 170 yen, . . . " Oh, dear! Still too much s . . . stuck in the pipes.

another one:

"Nippon Yusen sank 670 yen..."

1.3% is chump change. It is not a plunge. Who writes this stuff...a third grader?

1.3 % is nothing.

Kishida has promised economic reforms, raising wages and reversing Japan's slide toward neofeudalism. Those are not that kinds of reforms that the stock market likes.

Kishida can’t wave his wand and raise wages though, unless he plans huge regulation of the private sector.

He has no special clues about how to do what he says he wants to achieve. The goal is to just get the public to re-elect him, and then he will try to figure out what to do after that. It will have little to do with his “new capitalism” happy talk. He’ll be busy dealing with reality.

and there I was thinking this great progressive nomination would boost the market with zest and ingenuity. LOLLLLL

Elon sneezing has had greater effects

1.3 % is nothing.

That depends… 1.3% less in one day of a billion is much more lost than I guess you earn in your whole life. lol