Tokyo/New York — Japan Prime Minister Shinzo Abe’s election defeat in Tokyo last weekend is a "huge buy signal" for Japanese equities because of the increased pressure on Abe to return to his core task of boosting the economy, says Ed Rogers, head of Rogers Investment Advisors. The result of the Tokyo assembly elections was a "wake-up call" for Abe to go back to economic reform instead of pursuing constitutional change, Rogers said in an interview with Bloomberg TV. Rogers Investment is an Asia-focused advisory group that provides funding and support for hedge funds. Abe’s Liberal Democratic Party suffered a bloodbath in Sunday’s Tokyo assembly elections, winning its smallest number of seats on record in the capital. The initial euphoria over Abe’s pledge to revive the economy ebbed in 2016 with the first decline in the Topix index in five years. While equities have climbed this year, they are yet to recapture 2015 highs. Abe "is really sweating it right now, to be perfectly honest"...
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