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自民党总裁选举对金融市场的影响
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中金 • 全球研究 | 25年日本自民党总裁选举#2:选举流程与日本资产季节性
中金点睛· 2025-09-24 23:56
Group 1 - The core viewpoint of the article is that the upcoming election for the president of Japan's ruling Liberal Democratic Party (LDP) on October 4, 2025, is crucial as the elected leader is likely to become the next Prime Minister of Japan, marking a significant political transition within the party [2][5]. - The election process involves three main steps: candidate application, election schedule, and voting [3][4]. - The election will take place over a 12-day period, with various events including speeches and debates held in three major cities: Osaka, Tokyo, and Aichi [3][4]. Group 2 - The voting structure consists of a total of 590 votes, split evenly between LDP members of parliament and party members, with a majority needed to win [4]. - If no candidate receives a majority in the first round, the top two candidates will proceed to a second round where the weight of parliamentary votes increases significantly [4][5]. - The new Prime Minister will be determined through a "Prime Minister designation vote" in the National Diet following the LDP presidential election, which will also influence the composition of the ruling coalition [5]. Group 3 - Current public opinion polls indicate that candidates Shinjiro Koizumi and Sanae Takaichi are likely to face off, with Koizumi having a higher chance of winning [5][7]. - Support rates among LDP members show Koizumi at 32%, Takaichi at 28%, and other candidates trailing behind [7][8]. - The potential for a divided vote in the first round is high, with Koizumi's lead in parliamentary support suggesting a favorable outcome if he advances to the second round [8][9]. Group 4 - The presence of five candidates in this election is notable, as it reflects the disintegration of traditional factions within the LDP, allowing members to freely support candidates [9]. - Historical data shows that Japanese stocks tend to rise before the election and fall afterward, while the yen often appreciates prior to the election and depreciates slightly afterward [10][11]. - The article provides statistical insights into the behavior of the Nikkei index and currency fluctuations surrounding past LDP presidential elections, indicating patterns that may influence investor sentiment [10][11].