Japan’s new PM may be a boon for risk assets, crypto markets
Japan’s new prime minister may drive a renewed wave of risk appetite among Japanese crypto investors, industry watchers told Cointelegraph.
Japan’s newly elected prime minister, Sanae Takaichi, may bring fresh political momentum for risk assets, including cryptocurrencies, as her victory drove the country’s benchmark Nikkei index to an all-time high.
Japan’s Nikkei index rose 4.75% on Monday to a new all-time high close of 47,734.04, according to TradingView. The rally followed Takaichi’s election on Saturday, setting her up to become Japan’s first female prime minister when she takes office on Oct. 15.
Takaichi is widely regarded as pro-growth, supporting low interest rates, tax cuts and large-scale economic stimulus. Her stance has been well received by voters facing a weakening yen. During the campaign, she was the only candidate proposing both a major spending package and looser monetary policy.