Japan Prime Minister Ishiba to step down

[Prime Minister Shigeru Ishiba Campaigns Ahead Of Japan Upper House Election]
Buddhika Weerasinghe/Getty Images News

Japan’s Prime Minister Shigeru Ishiba intends to step down under party pressure following a big parliamentary election loss over the summer, Japan's NHK public television reported Sunday.

Ishiba, who took office in October, has resisted resignation demands from mostly rightwing opponents within his own party for more than a month.

Ishiba’s move comes one day before his Liberal Democratic Party will decide whether to hold an early leadership election – a virtual no-confidence motion against him if approved.

In July, Ishiba ’s ruling coalition failed to secure a majority in the 248-seat upper house in a crucial parliamentary election, further shaking the stability of his government.

Related ETFs: (NYSEARCA:FXY [https://seekingalpha.com/symbol/FXY]) (NYSEARCA:EWJ [https://seekingalpha.com/symbol/EWJ]) (NYSEARCA:JPXN [https://seekingalpha.com/symbol/JPXN]) (NASDAQ:EWJV [https://seekingalpha.com/symbol/EWJV]) (NYSEARCA:SCJ [https://seekingalpha.com/symbol/SCJ]) (NASDAQ:FJP [https://seekingalpha.com/symbol/FJP]) (NYSEARCA:DFJ [https://seekingalpha.com/symbol/DFJ]) (NYSEARCA:HEWJ [https://seekingalpha.com/symbol/HEWJ]) (NYSEARCA:DBJP [https://seekingalpha.com/symbol/DBJP]) (NYSEARCA:DXJ [https://seekingalpha.com/symbol/DXJ]) (NASDAQ:OPPJ [https://seekingalpha.com/symbol/OPPJ])

-- _The AP contributed to this report._

MORE ON JAPAN

* Understanding EWJ: A Guide To The IShares MSCI Japan ETF [https://seekingalpha.com/article/4819089-understanding-ewj-guide-to-ishares-msci-japan-etf]
* Japan's Bull Market Just Getting Started, DXJ Appears Strong [https://seekingalpha.com/article/4814860-japans-bull-market-just-getting-started-dxj-appears-strong]
* Yen Carry Trade Unwind Threatens Global Markets [https://seekingalpha.com/article/4814303-yen-carry-trade-unwind-threatens-global-markets]
* Asia markets advance as investors await U.S. jobs data, tariff cut on Japanese autos boosts Nikkei [https://seekingalpha.com/news/4492567-asia-markets-advance-as-investors-await-us-jobs-data-tariff-cut-on-japanese-autos-boosts-nikkei]
* Japan's real wages turn positive for first time in eight months to 0.5% in July, nominal wage growth hits 7-month high [https://seekingalpha.com/news/4492571-japans-real-wages-turn-positive-for-first-time-in-eight-months-to-05-in-july-trumps-tariff-cut-boosts-japan]