Japan’s ruling coalition extended its super-majority in snap parliamentary elections Sunday, buying Prime Minister Shinzo Abe more time to heal the ailing economy. So, why are Tokyo stocks falling?
The benchmark Nikkei 225 traded down 1.2 percent on Monday after polls showed the leading Liberal Democratic Party (LDP) party along with its coalition partner, New Komeito, won 326 seats in Japan’s 475-seat lower house.
The LDP won 291 seats, slightly short of the 295 it held before the poll, while New Komeito won 35 seats, up from 31 previously. Meanwhile, the opposition Democratic Party of Japan (DJP) won 73 seats, more than the 62 it had before the election.