TOKYO – Asian shares rose Monday, despite the rollercoast ride that closed Wall Street last week, as traders awaited cues from the U.S.
central bank expected later in the week. Japan's ruling Liberal Democratic Party was set to pick a new leader, who will by definition become the prime minister because of the party's control over the more powerful lower house of Parliament.
Favored to win is veteran ruling party politician, Yoshihide Suga, who will continue Shinzo Abe's “Abenomics” policies of easy lending and deregulation. “That decision should not be market moving as we fully expect a steady hand to remain on the tiller of Abenomics.