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Japan's Abe orders new stimulus package after election win

Yen weakened over perceptions, a landslide victory in upper house elections now gives him a free hand to draft economic policy

Reuters  |  TOKYO 

JapanesePrimeMinisterShinzoAbeorderedanewroundoffiscalstimulusspendingafteracrushingelectionvictoryovertheweekendasevidencemountedthecorporatesectorisflounderingduetoweakdemand. Abedidnotgivedetailsonthesizeofthepackage,butJapanesestocksjumpednearly4percentandtheyenweakenedoverperceptionsalandslidevictoryinupperhouseelectionsnowgiveshimafreehandtodrafteconomicpolicy. Anunexpecteddeclineinmachineryordersshowstheeconomyneedssomethingtoovercomeconsistentlyweakcorporateinvestment.Economists ...

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First Published: Mon, July 11 2016. 14:36 IST
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