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shigeru ishiba was officially elected prime minister of japan.

according to cctv news, on october 1, local time, the new president of japan’s liberal democratic party, shigeru ishiba, received more than half of the votes in the prime minister nomination elections held in the house of representatives and the senate of the provisional diet, and was officially elected as the 102nd prime minister of japan.

that morning, japan's kishida cabinet resigned en masse at an interim cabinet meeting.

on september 27, japan held a vote for the presidential election of the liberal democratic party. in the end, shigeru ishiba won the majority of votes in the second round of voting and was elected as the new president of the liberal democratic party. according to previous news, shigeru ishiba has begun planning the personnel layout of the cabinet, planning to keep the current chief cabinet secretary hayashi masaru in office, and former chief cabinet secretary and former minister of health, labor and welfare kato katsunobu to serve as finance minister.

ishiba shigeru is 67 years old. he worked in a bank in his early years. in his 38 years in politics, he has been involved in many fields such as agriculture, security, and local revitalization. he served as secretary-general of the liberal democratic party and chairman of policy investigation, and was called a "policy expert."

today, the nikkei 225 index closed up 1.93% at 38,651.97 points.

among the constituent stocks, kawasaki heavy industries rose more than 8%, mitsubishi heavy industries and nippon steel rose nearly 8%, japan exchange rose more than 5%, and softbank group rose more than 3%.

the day before (this monday), the nikkei 225 index fell 4.8%. the market is worried that ishiba's "hawkish" stance may bring huge uncertainty to the japanese market. some analysts say that with shigeru ishiba taking over as prime minister of japan, japan's 12-year-old "abenomics" is likely to come to an end. his victory will clear the way for the bank of japan to further raise interest rates.

it is understood that unlike abenomics, which supports loose monetary policy and advocates active expansion of fiscal spending, ishiba supports the return to normalization of monetary policy and takes a positive stance on fiscal consolidation.

however, after concerns emerged in the financial market that ishiba would promote tightening economic policies, ishiba showed a cautious attitude towards the bank of japan's earlier increase in policy interest rates in a tv program on september 29. "the current direction of monetary easing must be maintained in the future," ishiba said, putting a check on the central bank, which has said it will consider raising interest rates again if the consumer price index goes as expected. some japanese media commented that ishiba's statement may be intended to dispel market concerns before the start of the regime on october 1.

as of press time, the u.s. dollar has exceeded 144 against the yen and is currently up 0.56%.