Inside Abe’s election gamble


Four years after telling traders at the New York Stock Exchange to “buy my Abenomics,” Japanese Prime Minister Shinzo Abe returned to Wall Street last month to give an update on his progress. Sounding like a man limbering up for the campaign trail, Abe proudly rattled off a list of statistics that showed how much has improved in Japan’s economy since his last visit. “Economic growth has risen for six consecutive quarters — something that has not happened in 11 years,” he said. The percentage of listed companies with two or more independent outside directors has risen to 88%, up from a mere 17% five years ago. The numbers are there. Unemployment is just 2.8%, down from 4.0%. If traders had listened to the Japanese leader in 2013 and invested in the Nikkei 225, they would have earned a return of 37%…

Read more : Asia Nikkei, 05.10.2017