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Strategies & Market Trends : JAPAN-Nikkei-Time to go back up? -- Ignore unavailable to you. Want to Upgrade?

To: ElGator who wrote (1254)	7/12/1998 9:33:00 PM
From: Zardoz	Respond to of 3902

ichart.yahoo.com^n225 You don't find that slope just a little too much like Government buying? But I do agree: The voters have made a statement. Pretty clear!

To: ElGator who wrote (1254)	7/13/1998 12:09:00 AM
From: chirodoc	Read Replies (1) \| Respond to of 3902

who knows? if the pols accept the verdict and realize that they were trounced because they screwed up the economy there would be some + change. if they put in an old LDP bureaucrat, more of the same and the nikkei will tank. pray for a free marketeer! we will see soon Sunday July 12, 10:47 pm Eastern Time After Japan election, old-time pols pegged next PM By Janet Snyder TOKYO, July 13 (Reuters) - Japan was reeling on Monday after the ruling Liberal Democratic Party (LDP) was dealt a stunning setback in Upper House elections and the question on everyone's mind was who would succeed Prime Minister Ryutaro Hashimoto. There was a feeling of euphoria among many ordinary Japanese who believed they had registered their anger against Hashimoto's handling of the dismal economy, but also unease over whether the next man would be any better. Hashimoto was expected to announce his resignation at a scheduled news conference at 2 p.m. (0500 GMT). Major newspapers and analysts speculated that age-old factional considerations could take precedence as the LDP scrambled to choose Hashimoto's successor. If that formula holds true, then the next prime minister could be Foreign Minister Keizo Obuchi, who party insiders describe as an uninspiring, if genial party stalwart. Obuchi is next in line in traditional factional rotation. The Asahi Shimbun thundered in an editorial: ''It will be unforgivable if the LDP chooses a successor without reflecting on why they were beaten so badly, thinking they can do what they like because they hold a majority in the Lower House. ''Factional considerations must not come first,'' the newspaper said. The other name that comes to the fore is former chief cabinet secretary Seiroku Kajiyama, a more forceful personality who for some time has been nipping at Hashimoto's heels over his economic performance. In the Byzantine world of Japanese politics, what will decide the succession in Kajiyama's favour are the party godfathers. His key advantage is believed to be his backing by political godfather Yasuhiro Nakasone, a former prime minister. Nakasone's hand was strengthened, analysts said, when Hashimoto's camp was laid low. Akira Oki, whose father is currently serving as environment minister, told Reuters that Kajiyama is the front runner. ''He's the most acceptable to the LDP mainstream of the possible people,'' said Oki, who ran his father's campaign. Party insiders said Kajiyama's chances were further enhanced when the party's other kingmaker, former prime minister Noboru Takeshita, was seen huddling with him as Hashimoto's star plummeted on Sunday night. In the dark horse category, pundits bandied about former prime minister Kiichi Miyazawa, who took the spotlight recently with the unveiling of the bridge bank plan to sort out Japan's bad loan problems. The other name was that of the inoffensive Yohei Kono, a former LDP president, who could be put forward as a compromise candidate. The fact he is the only former LDP president who hasn't served as prime minister could help his chances, analysts said. Looking ahead, many observers said that whatever shape the next government takes, it will be short-lived. Pio D'Emilia, an adviser to the largest opposition party the Democratic Party led by charismatic politician Naoto Kan, said he foresaw general elections in the fall. ''This government will be a 'beach government', as they say in Italian politics. It's there just to pass the summer till elections in the autumn,'' D'Emilia said. ''I wouldn't look too much at the make-up of this government -- the key is to look at what goes on inside the LDP.''