20210924 market

Election season is boosting the performance of Japanese stocks as investors bet on potential market winners, including renewable energy and pharmaceuticals. (Source photo by Nikkei)

How the winner of Japan's PM race could affect markets

Ruling party set to choose between four very different candidates

TOKYO -- The prospect of a new prime minister has sent Japan's stock market to its highest level since 1990 as investors hope stronger leadership and fresh policies will spark change in the world's third-largest economy.

The four candidates to succeed Yoshihide Suga as leader of the ruling Liberal Democratic Party face off in a poll of party members and members of parliament on Wednesday. If no one wins a majority of ballots, the top two candidates will then head into a runoff, with the victor set to become prime minister ahead of a general election due before late November.

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