Japan's top government spokesman Chief Cabinet Secretary Yoshihide Suga speaks during an interview with Reuters in Tokyo, Japan August 26, 2020. REUTERS/Issei KatoJapanese shares rose on Wednesday after positive data on the U.S. manufacturing sector spurred hopes of a global economic recovery remains on track to bounce back from the COVID-19 pandemic.
If Suga becomes the new prime minister, this would suggest few major changes to economic policy and lesser chances of political instability, which are positives for equities, analysts said. The stocks that gained the most among the top 30 core Topix names were electronic parts maker Murata Manufacturing Co Ltd up 2.68%, followed by industrial robot maker Fanuc Corp gaining 2.49%.
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