Upsurge of 7.7% in Nikkei 225 index comes after prime minister’s pledge of corporate tax cuts,though long-term questions over ‘Abenomics’ remainJapan’s stock market soared on Wednesday after prime minister Shinzō Abe promised to cut corporate taxes and maintain the ultra-low borrowing costs that maintain supported the country’s economic recovery over the final two years.
The Nikkei 225 index rose by 7.7%, its biggest one-day rise since the 2008 global financial crisis, or as Abe,fresh from his recent re-election as LDP leader, said he planned to cut corporation tax by three percentage points and sounded optimistic on reaching a trans-Pacific trade deal.
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Source: theguardian.com