Tokyo stocks plunge over 2% as reports suggest Japanese PM Shinzo Abe set to resign

Tokyo stocks tumbled over two per cent on August 28 after reports suggested that Japanese Prime Minister Shinzo Abe is set to anunce his resignation amid worsening health condition. Nikkei, a stock market index for Tokyo Stock Exchange, dropped 2.10 per cent after public brocaster NHK and local media reported that Abe has expressed his intention to step down, citing his health condition.

reports emerged hours before a scheduled press conference where he is likely to explain reasons behind his decision to quit. Japan’s longest-serving prime minister me two separate trips to a hospital recently for health checkups due to a medical condition that have t yet been specified by PMO.

Abe told a press briefing on August 25 that achievement while holding a political office is more important than how much spent re. He said that government devoted every day during seven years and eight months to implement policies that party h promised to people and to deliver results.

“Thanks to accumulation of daily efforts, I believe we are able to welcome this day. We owe everything to strong support at national elections we have received from people,” he said.

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Health condition amid pandemic response

Chief Cabinet Secretary Yoshihide Suga, at a regular news conference, h brushed off worries about Abe's health. “I see him every day, but I haven't ticed anything different," he said. Suga said Prime Minister is undergoing ditional health exams to make sure he will be able to serve ar year until his current term ends in September 2021.

Japan was successful in containing coronavirus during first wave but started witnessing an exponential rise since last week of June. daily coronavirus cases are on a decline but country has been reporting deaths in double-digits for three consecutive days. Japan has reported over 64,000 total cases of COVID-19 and more than 1,200 related deaths so far.

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