'Kishida shock' to stocks shows fear Japan will slide on reforms

Investors question new PM's desire to shake up state capitalism like Koizumi did

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Another down day for the Nikkei Stock Average: The benchmark index has fallen for eight consecutive sessions through Oct. 6. (Photo by Tetsuya Kitayama)

TAKESHI KAWASAKI, Nikkei senior staff writer

TOKYO -- The Japanese stock market has suffered an eight-day losing streak unbroken by the election of a new prime minister, an event that typically produces a rally, in what some have dubbed the "Kishida shock."

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