Japan's cabinet reshuffle shows trade agreement commitment

Friday's cabinet reshuffle puts in power supporters of the Trans-Pacific Partnership, which indicates Japan might join the nations that seek in principle to reduce all tariffs to zero within 10 years.

Japan’s January 14 cabinet reshuffle the third since Prime Minister Naoto Kan took office in June could be good news for investors. As Nomura analysts point out “We think the January 14 cabinet reshuffle will have a positive impact on Japanese equities as a whole, as it indicates to us the Japanese government is taking an active stance towards normalising Diet proceedings and promoting the Trans-Pacific Partnership TPP.”

The equities call is a typical statement about how daily news drives the swings of any bourse. Normalised Diet proceedings is something we’d all love to see, but let’s face it, Kan is the fifth premier since 2006 and if there’s a norm it is regular...

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