Hello from Tokyo, where the weekslong political battle for the leadership of the ruling Liberal Democratic Party (LDP) has finally ended with the election of Shigeru Ishiba as Japan's new prime minister. Because he had been sidelined in a party that was dominated for nearly a decade by the late Shinzo Abe and his allies, some foreign ambassadors in Tokyo told me Ishiba was the only one among the nine LDP presidential candidates they had never met.
We have published many stories explaining who Ishiba is, but less is known about his policies. He will need to be clear about what he hopes to accomplish, especially if he wants to gain public support for the next general election. His recent monetary policy flip-flop has unsettled the market. When he visits Asia later this month for his first overseas trip as prime minister, Ishiba will be asked many questions about his foreign policy agenda, such as creating an Asian version of NATO.
Speaking of fresh starts, Nikkei Asia this week launched a new lineup of feature stories on our newly designed homepage. The new morning features spotlight Asia's hottest topics, including wealth, technology, policy and consumer trends, helping readers gain a deeper understanding of the region. This month, you can also enjoy daily episodes from Nikkei's long-running autobiographical series My Personal History, featuring Henry Kravis, co-founder and co-executive chairman of investment firm KKR.
We have a lot of great stories for you this week. Here are my top picks.
My suggested reads
1. The Singaporean currency recently rose to a 10-year high against the dollar amid lower U.S. interest rates and investor confidence in the city-state's resilient economy. Market analysts are trying to predict how the country's central bank, the Monetary Authority of Singapore, will move at its next policy review, expected in mid-October.
2. Singapore has experienced a sharp rise in the number of family offices in recent years, with many of the assets coming from mainland China. However, the growth has also triggered tensions in the city-state as official scrutiny of the wealth intensifies.
3. Mitsubishi Electric Nagoya Works has been an unsung hero of Japan's postwar manufacturing-led growth and of the rise of East Asia into the world's production hub. The automation devices it makes are used by Samsung Electronics on assembly lines and to transport products in Amazon.com warehouses.
4. Beijing's latest attempt to boost sentiment has succeeded more than its previous tries over the past year and a half. Yet many analysts are wary of calling an end to China's economic troubles, with the full scope of the government's planned stimulus yet unclear.
5. In the latest edition of My Personal History, Nikkei's signature autobiographical series, Henry Kravis, co-founder and co-executive chairman of global investment firm KKR, elaborates on how he, along with his cousin George Roberts, has been unlocking the full potential of capitalism through private equity, an industry they pioneered.
Through the lens
Here is my choice of photo from this week: Passengers prepare to board a train in Nanjing during China's National Day holiday on Sept. 30. (Photo by Getty Images) Check out more of our photo coverage here.
Wishing you a wonderful weekend!
Shin Nakayama
Follow me on X (formerly Twitter) @ShinNakayama_NA
