While anticipation of a new government has already lifted Tokyo stocks to their highest level in 31 years, many analysts think a victory by vaccination minister and pro-reform Taro Kono in the Sept. 29 ruling party leadership election will send share prices even higher.
The 225-issue Nikkei average has surpassed the 30,000 mark and moved at its highest level since the Japanese economy experienced an asset-inflated bubble, following Prime Minister Yoshihide Suga's decision to resign amid plunging support rates.
The new Liberal Democratic Party leader, to be chosen from among Kono, former Foreign Minister Fumio Kishida, former communications minister Sanae Takaichi and former gender equality minister Seiko Noda, will also be the next prime minister as the party controls the House of Representatives, the more powerful chamber of the Diet.