posted at 01:50
Author Name: Mike Bird
Polls Show Japans Prime Minister Abe To Win Election
REUTERS/Issei KatoJapanese Prime Minister Shinzo Abe looks set to win a landslide majority in elections next weekend. Japan's Prime Minister Shinzo Abe is likely to storm to another victory in the Japanese general election on Dec. 14. According to polls out Thursday and Friday, Abe is set to take about 300 of the 475 seats in Japan's Diet, the name for the lower house of the parliament. Morgan Stanley's Robert Alan Feldman said in a note dated Nov. 21 that a "Solid victory" for Abe could send TOPIX, a major index of Japanese stocks, up 28% by fall 2015. Feldman raised his estimated probability of a same-sized or larger coalition for Abe to 60%, from a previous estimate of 25%. He's revised the chance of a major loss for the coalition down to 10%, from 20% before. Abe called the election in November after shockingly bad GDP figures. Abe ran on a platform of pushing back the second part of the sales tax hike, scheduled for October, for at least 18 months. Abenomics so far has done very well in corporate governance reform, but also has done well in agricultural reform, government reform, and education reform.

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