Japan Stocks Rise After Abe Shelves Tax Increase, Calls Election Japanese stocks rose after Prime Minister Shinzo Abe postponed a planned sales-tax increase, called a snap election and ordered his ministers to start preparing a stimulus package. Parliament will be dissolved Nov. 21. The vote will probably be Dec. 14, said people with knowledge of the ruling party’s strategy.
“The results of Abenomics in the past two years can be seen in the numbers, such as the gains in stock prices,” said Hiroichi Nishi, an equities manager at SMBC Nikko Securities Inc. “The market mostly thinks the ruling party can win a majority again, so there are expectations for post-election growth strategies and decisions on deregulation, lowering the corporate tax rate and increasing wages.”
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