Japanese Prime Minister Fumio Kishida announced he would not seek a second term as leader of the Liberal Democratic Party in September, effectively stepping down as Japan's prime minister. Kishida’s decision comes amid low approval ratings, driven by political scandals and economic challenges. The LDP's dominance in parliament means that the winner of its upcoming leadership race will likely become the next prime minister, marking Japan's third premier since Shinzo Abe's resignation in 2020. Financial markets reacted with a strengthened yen and mixed stock performance following the news.
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00:00It's Benzinga, and here's what's on the block.
00:02Japanese Prime Minister Fumio Kishida announced he will not seek a second term as leader of
00:07the Liberal Democratic Party in September, effectively stepping down as Japan's prime
00:11minister.
00:12Kishida's decision comes amid low approval ratings driven by scandals within his party
00:17and economic challenges.
00:19The LDP's dominance in parliament means that the winner of its upcoming leadership race
00:22will likely become the next prime minister, marking Japan's third premiere since Shinzo
00:27Abe's resignation in 2020.
00:29Financial markets reacted with a stronger yen and mixed stock performance following
00:33the news.
00:34For all things money, visit Benzinga.com.