Supportive equity valuations bring upward trajectory back to market

More than five decades of rule by the Liberal Democrat Party in Japan has come to an end.

After sweeping to power in a landslide victory at the end of August, Yukio Hatoyama, leader of the Democratic Party of Japan (DJP) was formally elected Prime Minister last week and elected his new Cabinet – the average age of which is 60.7. Young for Japan. His victory reflected the Japanese electorate’s dissatisfaction with the LDP and its appetite for ‘chenji’ (slang for change in Japanese). The country’s long-term economic malaise and the pain of the recent global recession finally exceeded voters’ patience. This election result was perhaps due more to voters wanting the LDP out than ...